FTSE for FRIDAY for 1/11/2019

#FreeFirstFutures A week with a FTSE being underwhelmed by UK political decline appears to be finally responding in true Halloween fashion – scary but not really! It doesn’t even look like we shall find our hallowed leaders body in a ditch, despite his preferred method of exit in the absence of Brexit. Trump & Clinton once did a televised debate, managing avoid noticing viewers found both of them abhorrent. It looks like the UK’s political leaders are intending embrace similar levels of self delusion but it’s not supposed to be this way, is it? Voting papers should have a “None Of The Above” option to ensure career politicians do not win by default.

The market has spent the last 5 sessions flirting with the 7330 level for some reason. Now, it feels like some reversal is almost upon us and oddly, the key trigger level looks like 7,234 points. We cannot understand why this has happened but the situation presently appears to suggest only if the index moves more than 100 points from its previous parking level should we believe more reversal is upon us.

The market closed Thursday at 7,248 points. Now below 7,230 and we expect reversal to an initial 7,211 points. If broken, secondary calculates at 7,183 points. And if triggered, the tightest stop appears to be quite reasonable at 7,272 points.

The alternate scenario appears to be at 7,281 as movement above this trigger is supposed to be capable of a truly unimpressive 7,294 points. If bettered, our secondary calculation comes in at 7,317 points. If triggered, the tightest stop looks like 7,245 points.

For light relief, we’ve shown some bigger picture targets, suggesting target levels if “it all goes wrong – or right”. To be blunt, unless the FTSE experiences a miracle and starts trading above the aforementioned 7,330’s again, it’s now trading in a region with a bottom at 6,594 points eventually. If it were a share, we’d already assume that’s where the price intends head. Amazingly, it would suggest a return to the FTSE level the year started with, along with a strong hint we forget 2019 even happened.

Have a good weekend, it’s time for Austin, Texas & Formula 1, hopefully the UK driver Hamilton winning his 6th world title. (Though everyone knows it’s really his 7th)

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:10:39PM

BRENT

59.49

59.1

58.895

 

60.8

60.52

60.78

 

59.6

‘cess

10:12:40PM

GOLD

1512.31

1496

1490

 

1509

1514.1

1518.5

 

1499

Success

10:15:02PM

FTSE

7261.8

7238

7216

 

7272

7281

7289

 

7243

Success

10:18:04PM

FRANCE

5740.7

5717

5684

 

5757

5768

5777.5

 

5721

10:28:10PM

GERMANY

12889.28

12793

12768.5

 

12902

12923

12961

 

12851

Shambles

10:30:19PM

US500

3036

3021

3014

 

3040

3053

3060

 

3028

10:38:31PM

DOW

27034

26933

26868

 

27068

27235

27296.5

 

26951

Success

10:43:38PM

NASDAQ

8079

8015

7991

 

8092

8133

8146

 

8046

‘cess

10:46:09PM

JAPAN

22703

22650

22598.5

 

22813

22846

22894.5

 

22730

‘cess

 

31/10/2019 FTSE Closed at 7248 points. Change of -1.12%. Total value traded through LSE was: £ 6,139,753,782 a change of 11.95%

30/10/2019 FTSE Closed at 7330 points. Change of 0.33%. Total value traded through LSE was: £ 5,484,235,986 a change of 6.15%

29/10/2019 FTSE Closed at 7306 points. Change of -0.34%. Total value traded through LSE was: £ 5,166,736,018 a change of 9.98%

28/10/2019 FTSE Closed at 7331 points. Change of 0.1%. Total value traded through LSE was: £ 4,697,887,789 a change of 4.65%

25/10/2019 FTSE Closed at 7324 points. Change of -0.05%. Total value traded through LSE was: £ 4,489,255,680 a change of -20.08%

24/10/2019 FTSE Closed at 7328 points. Change of 0.94%. Total value traded through LSE was: £ 5,617,068,603 a change of -3.47%

23/10/2019 FTSE Closed at 7260 points. Change of 0.67%. Total value traded through LSE was: £ 5,818,863,244 a change of 3.71%

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