FTSE & SP500 for 12/07/2019

#DAX #Gold The ‘damage’ enacted by Trumps presidency continues to wreak havoc on US markets with the S&P now stronger than ever before. So are the DOW and Nasdaq! It makes a painful contrast with the UK’s “strong & stable” rhetoric while the FTSE struggles to reach any realistic growth levels. Maybe we need build yet another wall to keep Scots out, because some ideas work in unexpected ways…

The S&P now needs better 3003 to enter a cycle toward 3027 points next, perhaps even 3046 points thanks to all the opening movement gaps. Longer term, the index now looks capable of 3163 as the next major point of interest. The market needs fall below 2875 to indicate the rising phase is starting to fail.

As for the FTSE and Friday, as mentioned earlier, the index continues to behave poorly and weakness now below 7500 looks capable of a near term 7473 points. If broken, secondary is at 7424 points and we’d hope for a rebound at such a level. If triggered, the tightest visual stop is at 7532 points but realistically, we’d prefer 7560 as this one appears too much like a free gift.

The converse situation, what happens if the index betters 7532 is pretty straightforward. Initially we’d look for some recovery to 7558 points. Secondary, if bettered, calculates at 7598 points.

We’re not oozing optimism, given the UK market managed to close below its immediate uptrend. Equally, if we applied similar acceleration force to those experienced in the USA, the UK should be trading around 7750 at present.

Hopefully this weekends British Grand Prix gives the UK markets a boost for next week. (clue: no chance)

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:38:37PM

BRENT

66.7

66.28

66.13

   

67.51

68.755

   

‘cess

10:41:03PM

GOLD

1404.49

1400

1391

   

1427

1431.5

   

‘cess

10:43:05PM

FTSE

7532.72

7500

7489.5

   

7560

7582

   

‘cess

10:46:42PM

FRANCE

5556

5548

5531

   

5594

5606.5

   

Shambles

10:48:52PM

GERMANY

12345

12304

12232

   

12436

12458

   

‘cess

10:51:29PM

US500

3000.22

2988

2982.5

   

3004

3009.5

   

10:53:29PM

DOW

27082.3

26883

26814.5

   

27098

27149

   

Success

10:56:45PM

NASDAQ

7896.12

7871

7848

   

7939

7956

   

10:58:13PM

JAPAN

21620

21522

21499

   

21643

21716.5

   

11/07/2019 FTSE Closed at 7509 points. Change of -0.28%. Total value traded through LSE was: £ 5,378,122,833 a change of 10.52%

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