FTSE Friday for 19/07/2019

It appears Friday wants to be another down day on the #FTSE. If this happens, it will make the 3rd depressing Friday in a row, almost like the market is bored of leadership nonsense, Brexit nonsense and Trump nonsense too. #DOW #GOLD Of course, it’s probably the annual pre-August slump along with the “holiday” monsoon season in Scotland.

The market has certainly broken though the immediate uptrend, flirting provocatively with the RED uptrend but carefully avoiding regaining the trend. This alone should suggest some sort of slump is ahead. It has resulted in the situation where weakness now below 7482 should expect some reversal in the near term down to an initial 7455 points. If broken, our secondary calculates at 7395 points.

The visuals suggest, quite strongly, if 7395 does make an appearance, some sort of rebound should be expected as the market appeared to find this level fascinating for much of June. It’s pretty hard to express any timeframe for 7395 appearing, thanks to market movements recently tending to be in baby steps. The funny thing tho’, if 7395 were to break for any reason, a further fall to 7175 looks like it should be quite fast, so perhaps Boris is polishing an acceptance speech which proposes England subjugates Calais to streamline customs movements!

If the drop cycle gets underway, the FTSE will need exceed  7535 to cancel immediate drop potentials, giving a relatively tight stop loss against a potential 300+ point droop!

What if 7535 is exceeded?

Apparently we are to expect recovery to an initial 7551 points. If bettered, secondary is a longer term 7602 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

10:48:02PM

BRENT

62.34

61.04

60.73

 

62.35

62.68

62.975

 

61.37

Success

10:50:04PM

GOLD

1446.65

1419

1413.5

 

1429

1448

1456.75

 

1425

Success

10:52:27PM

FTSE

7507

7478

7433

 

7521

7521

7536.5

 

7480

‘cess

10:54:32PM

FRANCE

5556.5

5552

5543.5

 

5575

5585

5596.5

 

5555

‘cess

10:56:42PM

GERMANY

12269

12231

12214

 

12278

12302

12339.5

 

12215

‘cess

10:58:47PM

US500

3001.11

2980

2974

 

2998

3002

3012

 

2979

‘cess

11:02:32PM

DOW

27296

27169

27152

 

27232

27309

27322

 

27170

Success

11:04:49PM

NASDAQ

7934

7847

7818.5

 

7900

7947

7981.5

 

7880

‘cess

11:07:40PM

JAPAN

21193

21052

20989

 

21310

21200

21278.5

 

21050

‘cess

18/07/2019 FTSE Closed at 7493 points. Change of -0.56%. Total value traded through LSE was: £ 5,583,341,954 a change of 1.09%

This post has already been read 881 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.