FTSE for 31/05/2019

FTSE for FRIDAY #CAC40 #DOW

We remain humbled at the volume of folk who read our Friday missive, visiting from all around the world. For the first time ever, we get to say “hi” to folk in Zimbabwe, making a surprise visit last week. Googles Analytics service remains addictive, giving the excuse for a wasted 30 minutes.

As for the FTSE for Friday, we lack confidence for the day. In theory, above 7232 should now promote a visit to 7245 points initially. Secondary, if bettered on the first upward surge, calculates at a more useful 7274 points. If triggered, the tightest stop is at 7198 points.

What happens if 7198 breaks?

We’d expect weakness down to an initial 7180 points. If broken, secondary is at 7147 points. If triggered, the tightest stop looks like 7230 points.

The water is further muddied by the fact Friday is the last day of a month. For some reason, this often sees logic abandoned, faster than a politicians stance on Brexit. Our feeling earlier in the week for to expect the FTSE to eventually reverse and hit a “bottom” at 7106 points. Perhaps some indicators are due to be released which shall justify a really grotty end to the month.

Additionally, it is worth pointing out the FTSE has now slithered below the uptrend for 2019, this tending suggest long positions risk trouble unless the index betters 7137 points, regaining the trend.

We’re braced for the worst.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

11:02:55PM

BRENT

65.21

               

Success

11:05:37PM

GOLD

1288.61

               

‘cess

11:07:22PM

FTSE

7232.45

               

Success

11:09:36PM

FRANCE

5258.7

5228

5200

5188

5260

5260

5269

5292

5230

Success

11:12:18PM

GERMANY

11926.81

               

11:14:19PM

US500

2790.42

               

11:15:56PM

DOW

25179

25053

24990

24920

25154

25221

25334

25468

25060

11:17:52PM

NASDAQ

7248.5

               

11:19:29PM

JAPAN

20952

               

 

30/05/2019 FTSE Closed at 7218 points. Change of 0.46%. Total value traded through LSE was: £ 4,645,838,804 a change of -15.45%

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