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%

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