FTSE for FRIDAY #DOW #GOLD A car journey the other evening reminded, sharply, the value of investments can go down as well as up! The car, an automatic, decided, press the accelerator pedal and the engine will stop!
Unless you are in reverse in which case it worked perfectly. It proved a truly surreal experience, reversing one mile home, at night, during a storm with 70mph gusts.
When the thing was again in the driveway, I looked around in expectation of a Top Gear bloke with a white coat, offering the next challenge. But truthfully, it felt like one of these share price journeys where it goes up, only to reverse to where it started.
We wonder, with the news Brexit may be delayed, whether the FTSE is about to embark on one of these journeys which shall go nowhere?
From a near term perspective, it appears movement now above 7220 points can be expected to provoke a challenge of 7247 next. If bettered, secondary calculates at 7285 which would prove quite a big deal, dumping the index in a region where we’d expect a longer term “top” at 7400 on the current cycle. It will certainly prove curious, if this coincides with any mooted Brexit extension period, carrying the expectation a bloke in a white coat will hand the FTSE its next challenge around such a point.
The other side of the coin comes – allegedly – if the FTSE makes its way below 7179 points as reversal to an initial 7154 is possible. If broken, secondary calculates at 7082 points. A fly in this ointment comes, if the FTSE is truly entering an uptrend. It will tend make reversals hard to achieve as reversals shouldn’t reach target.
The cliche, “we live in interesting times” is difficult to justify as the ongoing Brexit shambles is proving anything but interesting.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
9:48:09PM |
BRENT |
67.16 |
‘cess |
||||||||
9:50:33PM |
GOLD |
1296.77 |
1292 |
1289 |
1279 |
1303 |
1305 |
1308.5 |
1314 |
1295 |
Success |
9:52:20PM |
FTSE |
7184.97 |
‘cess |
||||||||
9:58:29PM |
FRANCE |
5343 |
Success |
||||||||
10:00:39PM |
GERMANY |
11589 |
Shambles |
||||||||
10:04:48PM |
US500 |
2807.77 |
|||||||||
10:08:15PM |
DOW |
25720 |
25568 |
25519 |
25430 |
25750 |
25792 |
25922.5 |
26080 |
25565 |
|
10:10:16PM |
NASDAQ |
7243.64 |
|||||||||
10:12:06PM |
JAPAN |
21343 |
14/03/2019 FTSE Closed at 7185 points. Change of 0.36%. Total value traded through LSE was: £ 6,547,660,218 a change of 4.51%