FTSE for FRIDAY #SP500 #NK225 For the first time ever, visitor numbers from the USA exceeded visitors from the UK. In fact, the surge in USA visitors exceeded the rest of the world combined! It was quite amazing witnessing what happens, when a couple of our reports were referenced in New York. But Reunion Island visitors still feature, giving a weekly “wish I was there” boost to travel ambitions.
As for the FTSE for Friday, a glance at the bigger picture reveals something fairly alarming. During April, the UK market exceeded the downtrend for the last 12 months, flounced around but failed achieve escape velocity, and now has retreated below the BLUE trend. In addition, the FTSE has broken the immediate RED uptrend for 2019.
In plain English, we’re not optimistic as the UK index requires exceed 7433 to regain confidence!
If taking a shot in the dark SHORT position, betting on our political leaders competence, this affords a “fairly reasonable” stop loss level, given the UK closed Thursday at 7351 points.
Near term, it appears alarm bells will be justified, if the FTSE trades below 7338 points as reversal to an initial 7311 makes sense. If broken, our secondary calculates at 7240, a point at which we’d hope for a bounce. We’d be remiss if we failed to point out the FTSE is once again trading in a region where 6750 makes sense for the longer term.
It’s always difficult to be confident about Long potentials, when a market has entered a reversal phase. Often, despite triggers being met, a share will only achieve our initial “safe” target with any rise withering before the secondary target level. At present, the FTSE requires above 7395 to indicate miracle recovery to 7433 points initially (insufficient to escape the drop cycle). If bettered, secondary is at 7502 and visually quite believable.
Have a good holiday weekend.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:57:51PM |
BRENT |
70.35 |
Success | ||||||||
|
10:13:38PM |
GOLD |
1270.8 |
Success | ||||||||
|
10:15:19PM |
FTSE |
7345.41 | |||||||||
|
10:19:19PM |
FRANCE |
5536 |
‘cess | ||||||||
|
10:20:55PM |
GERMANY |
12328.44 |
‘cess | ||||||||
|
10:23:13PM |
US500 |
2917.97 |
2897 |
2888 |
2876 |
2925 |
2931 |
2939 |
2953 |
2904 |
‘cess |
|
10:25:28PM |
DOW |
26302 |
‘cess | ||||||||
|
10:27:48PM |
NASDAQ |
7726.82 |
‘cess | ||||||||
|
10:29:27PM |
JAPAN |
22296 |
22147 |
22077 |
21945 |
22358 |
22388 |
22464 |
22562 |
22218 |