Trends and Targets for 22/02/2019

FTSE for FRIDAY #DAX #Nasdaq Sometimes we wish part of the #FTSE would follow our political leaders and break away from the main index. It could call itself “the Whoopsie” and be ignored by the rest of the market. But the media would doubtless focus closely on what it was doing to the detriment of everything else.

As can be correctly assumed, we remain bewildered at the behaviour of the FTSE as the index continues to behave as if it has not factored the future under Brexit into its calculations. As expected, the financial sector (which we feel shall provide the final clue to the markets real direction) is proving hesitant, just like many MP’s  as news breaks  of one of their number being arrested for expense fraud.

 

At present, the situation with the FTSE appears to be of movement below 7141 allowing traffic down to 7105 points. If broken, our secondary calculates at 7064 points. If triggered, the tightest stop appears to be 7195 points.

Visually there is ample reason to expect a bounce at the 7064 level, if only due to prior lows in February. The real problem comes if the index manages below 7064 points as it risks breaking this years uptrend, presently at 6930 and continuing south to 6885 and below. In fact, this comes dangerously close to the 1,000 point drop we occasionally postulate, when feeling bewildered.

 

At present, there’s a Big Picture trigger level at 7278 points. Only with movement above such a point shall be exhibit signs of optimism, this allowing travel to an initial 7364 points. If bettered, secondary is at 7489 points but in fairness, the index could easily catapult to 7750 points on a tidal wave of optimism and flying pigs. If triggered, the tightest stop is ridiculously wide at 7060 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

9:49:49PM

BRENT

67.01

9:53:54PM

GOLD

1323.67

Success

10:04:55PM

FTSE

7169.09

‘cess

10:06:08PM

FRANCE

5188

10:11:56PM

GERMANY

11409.45

11387

11358

11316

11440

11484

11523

11562

11403

10:31:47PM

US500

2774.42

‘cess

10:33:31PM

DOW

25846.4

‘cess

10:35:02PM

NASDAQ

7030.87

6998

6976.5

6933

7065

7107

7130.5

7231

7022

‘cess

10:36:18PM

JAPAN

21350

‘cess

 

 

21/02/2019 FTSE Closed at 7167 points. Change of -0.84%. Total value traded through LSE was: £ 5,619,117,347 a change of -3.16%

 

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