Friday FTSE for 16/08/2019

#DJI #FTSE As we ponder an end of civilisation, due to global market reversals, it occurs the UK’s Brexit shambles is “off the hook” for damaging the stock market. Or is the UK still secretly a driving force in world affairs, despite woeful political leadership? Last time we had so many shares needing an update in a single day was immediately following the Brexit vote!

There is still some hope the UK will bottom around Thursdays low of 7020 points. We shall be alarmed in the event 7007 now breaks, thanks to our immediate drop target calculating at 6984 points. If broken, secondary computes at 6906. Hopefully, if this scenario triggers, it doesn’t all happen in a single day.

There is a chance Thursdays low of 7020 shall be deemed “bottom” with the result a rebound could occur on Friday. It closed Thursday at 7059 points, needing only above 7098 points to tick the first “bottom is in” box. Above 7098 allows recovery to an initial comfortable looking 7156 points. If exceeded, secondary comes along at 7246 points. The initial ambition would imply a coming bonk against the immediate downtrend. But if bettered, nearly another 100 points will make a lot of visual sense.

We remain a little suspicious over this reversal. A drop at the end of July / start August is fairly normal, as is a surprise recovery which lasts through to September and the end of the holiday season. On this occasion, the market has certainly retreated further than we’d like but unless 7007 breaks, some hope exists for recovery soon.

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

9:46:42PM

BRENT

58.12

57.43

56.63

 

58.77

59.2

59.44

 

58.36

‘cess

9:49:59PM

GOLD

1524.74

1512

1510

 

1521

1527

1531

 

1516

10:01:43PM

FTSE

7082.04

7001

6949.5

 

7143

7145

7190.5

 

7061

‘cess

10:03:55PM

FRANCE

5237

5169

5129

 

5263

5283

5316

 

5202

‘cess

10:28:39PM

GERMANY

11432

11340

11254.5

 

11480

11505

11582.5

 

11346

‘cess

10:30:16PM

US500

2851

2816

2801

 

2855

2870

2876.5

 

2833

‘cess

10:32:43PM

DOW

25603

25227

25110

 

25600

25716

25863

 

25409

‘cess

10:36:41PM

NASDAQ

7500

7419

7369

 

7507

7540

7584.25

 

7443

‘cess

10:39:16PM

JAPAN

20358

20160

20069.5

 

20303

20513

20555

 

20310

‘cess

 

15/08/2019 FTSE Closed at 7067 points. Change of -1.12%. Total value traded through LSE was: £ 5,608,085,951 a change of -5.76%

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