FTSE for FRIDAY 8/11/2019

#GOLD #DOW The UK market has spent November limping ever higher, but trailing behind other European and US index’. The slow pace, doubtless, is due to nerves over the Election, Brexit, and what ‘vote greedy’ politicians may say next to enhance their exposure. There are slight signs of an imminent slowdown on the FTSE and we suspect Friday may show some reversal.

At present, the key number on the FTSE is at 7285 points. This is the level the market needs fall below to force us to take reversal seriously. Unless this number is broken, anything soon is liable to be simply part of a trading range. The other key number is at 7440 points.

Above this level, the market betters the highs of July, and enters a cycle where growth to 7494 becomes a near certainty. Secondary calculates at a longer term 7654 points and visually shall challenge the downtrend since the peak achieved in May 2018.

Near term, it looks probable Friday should relax (we’ve a caveat!) and for safety sake, allocating 7384 as a trigger level makes sense. The caveat is quite silly – on far too many occasions recently, when the FTSE illustrates a drop dead argument of direction, the market has toddled off in the opposite direction. To play safe, we’ve opted for a fairly wide trigger level. Below 7384 suggests weakness to an initial 7373 points. If broken, secondary is at 7330 points.

The UK market needs better 7422 before we take any rise seriously as it should permit near term movement up to an initial useless 7429 points. If bettered, secondary calculates at 7439 points – marginally below the Big Picture trigger level of 7440 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
10:18:36PM	BRENT	62.09
10:22:31PM	GOLD	1469.09	1460	1456	1442.22	1476	1492	1502	1516	1479	Success
10:24:10PM	FTSE	7406.91
10:28:40PM	FRANCE	5877.9									Success
10:31:56PM	GERMANY	13284
10:34:51PM	US500	3086.77									‘cess
10:38:21PM	DOW	27715	27580	27474	27354	27758	27780	27899	28343	27406	‘cess
10:41:27PM	NASDAQ	8223.5									Success
10:44:12PM	JAPAN	23555									Success

 

 

7/11/2019 FTSE Closed at 7406 points. Change of 0.14%. Total value traded through LSE was: £ 6,196,615,818 a change of 30.74%

6/11/2019 FTSE Closed at 7396 points. Change of 0.11%. Total value traded through LSE was: £ 4,739,678,595 a change of -23.11%

5/11/2019 FTSE Closed at 7388 points. Change of 0.26%. Total value traded through LSE was: £ 6,164,114,046 a change of 25.79%

4/11/2019 FTSE Closed at 7369 points. Change of 0.92%. Total value traded through LSE was: £ 4,900,286,853 a change of -8.27%

1/11/2019 FTSE Closed at 7302 points. Change of 0.75%. Total value traded through LSE was: £ 5,342,127,869 a change of -12.99%

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%