Trends and Targets for 18/01/2019

#FTSE for FRIDAY & #GBPUSD too. #Gold #SP500 With the strong & stable UK Govt working wonders with their negotiation and organisation skills, it was only a matter of time before the markets noticed, reacting positively. Or perhaps, more probably, have gotten bored with a lack of anything actually happening. The pound / dollar relationship is a case in point.

For quite a while, it appeared destined for parity but the last week has seen the pairing explode into territory where mild optimism is about the only thing possible. To be quite clear, this pair require exceed the Dark Blue line on the chart, presently at 1.38, before we dare upgrade our optimism level from mild to extremely sceptical! Only above Dark Blue will scrub our big picture calculations pointing at parity and below. However, a stay of execution from the immediate route to misery appears possible with the result anywhere above 1.308 (the immediate target) allows recovery to 1.33 next.

If exceeded, secondary calculates at 1.357.

There’s a fair chance we’re “only” watching delaying tactics prior to a real drop and if this is the case, the visuals indicate some stutters at the 1.33 level.

 

FTSE for FRIDAY The UK market closed at 6835, in the process providing a relatively entertaining day. If we gauge by after hours futures performance, apparently movement now above 6862 points should bring a climb to a tight fisted 6875 points. However, if bettered, our secondary calculates at 6899 points. In fact, if the PM and her opposition number were to resign, replaced by mime artists, there’s a chance the index could quickly surge to 6956 points on a tidal wave of sensible sounds from UK party leaders…

However, despite the state of after hours futures, we’re not entirely confident as to the markets intentions, suspecting weakness now below 6798 shall bring reversal to 6722 points!

Have a good weekend.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:10:35PM	BRENT	61.19
10:12:17PM	GOLD	1292.33	1287	1284.5	1281	1294	1295	1298.35	1302.2	1289
10:14:43PM	FTSE	6864.81
10:16:05PM	FRANCE	4812.7									Shambles
10:17:53PM	GERMANY	10967
10:21:50PM	US500	2638	2590	2567	2541	2625	2641	2655	2677	2590
10:26:01PM	DOW	24375.5									‘cess
10:31:54PM	NASDAQ	6719									‘cess
10:33:45PM	JAPAN	20525									‘cess

 

17/01/2019 FTSE Closed at 6834 points. Change of -0.41%. Total value traded through LSE was: £ 4,874,028,125 a change of -20.52%

16/01/2019 FTSE Closed at 6862 points. Change of -0.48%. Total value traded through LSE was: £ 6,132,588,071 a change of 10.76%