FTSE for 23/08/2019

FTSE for FRIDAY Approaching the final week of a grotty month, the #FTSE currently behaves like a driver in slow traffic with a police car behind. Exquisite caution is being exercised and we feel it’s justified. Too many things are piling up, suggesting some reversal is almost upon us. This, obviously, would be silly for the driver of the car in traffic!

Thursday proved a bit of a puzzle, literally world wide. Many markets (aside from the DOW) experienced upward triggers yet failed to move. Equally, a few hit downward triggers yet failed to move. The DOW, desperate to please, hit an upward trigger, achieving initial target. It later hit a downward trigger, also achieving target. In plain English, it left us painfully aware the market isn’t giving away any immediate direction hints.

For Friday, the FTSE is interesting. Weakness now below 7103 points suggests coming reversal to an initial 7084 points. If broken, secondary calculates at 7010 points and hopefully some sort of near term bounce. If triggered, the tightest stop  looks like 7149 points.

What happens if 7149 is exceeded?

Initially, surprise recovery to an initial 7168 makes some sense. If exceeded, our longer term secondary is at 7189 points.

In both scenario, we’d remind the market is proving cautious and we shall not be aghast if the FTSE mimics everywhere else by only chasing initial targets.

Have a good, dry, weekend.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:13:39PM	BRENT	69.69	59.14	58.925			60.58	60.96
10:15:43PM	GOLD	1498.56	1492	1489			1505	1508.5
10:18:04PM	FTSE	7127.78	7101	7084			7204	7225.5
10:22:57PM	FRANCE	5394.2	5387	5373			5431	5450
10:24:41PM	GERMANY	11749	11707	11674.5			11856	11902			Shambles
10:27:00PM	US500	2920.77	2903	2891			2939	2950
10:40:21PM	DOW	26230	26087	26011.5			26379	26424.5			‘cess
10:44:08PM	NASDAQ	7702.37	7643	7630			7737	7761.5			Shambles
10:45:38PM	JAPAN	20598	20535	20486.5			20696	20753

22/08/2019 FTSE Closed at 7128 points. Change of -1.04%. Total value traded through LSE was: £ 5,055,126,990 a change of 4.34%