#FTSE #DOW #GOLD By any standards, this has been a strange week. A combination of the markets, still not approaching decent trading volumes, along with this weeks “Iran” headlines, gave a media impression the markets faces a meltdown. Quite the converse has happened. The FTSE wants to reach 7,850 allegedly!
However, it’s worth remembering (as if anyone could forget) this is January, traditionally a month packed full of contrary behaviour. A month, topped off with The World Economic Forum (aka Ski Trip) in Davos which often witnesses a dip in world markets prior to a surprise surge around the Davos event and all sorts of exhuberance during China’s week long New Year holiday. What has surprised (so far), events in Iran appeared to be providing a reasonable excuse for market reversal prior to the month end and Davos. Instead, we’ve seen a series of pretty average days this week, followed by a Thursday which almost felt exuberant at times.
So, what’s ahead for Friday?
Below 7,591 looks fairly troubling, apparently capable of reversal to an initial 7,568 points. If broken, secondary calculates at 7,557 points and this gets troubling, taking the UK index into a region where very little excuse is needed to crash it down to the 7,500 level. If triggered, tightest stop is at 7,620 points.
The alternate scenario looks at the possibility of London trading above 7,634 points. Such a scenario apparently expects some growth to an initial 7,661 points. If exceeded, secondary on the immediate cycle calculates at 7,682 points. Visually, the initial target makes sense but the jury is out on the secondary, despite the longer term attraction from 7,850.
Despite this being the first complete week of 2020, market volumes are still rather low. Hopefully next week witnesses some real flamboyance on the market.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:03:49PM |
BRENT |
65.13 |
64.3 |
63.67 |
65.78 |
66.15 |
66.545 |
64.96 | |||
10:06:07PM |
GOLD |
1552.81 |
1544 |
1539 |
1559 |
1561 |
1565 |
1551 |
‘cess | ||
10:08:04PM |
FTSE |
7618.39 |
7566 |
7553.5 |
7618 |
7627 |
7635 |
7566 | |||
10:10:12PM |
FRANCE |
6050 |
6006 |
5980.5 |
6035 |
6071 |
6078 |
6011 | |||
10:21:58PM |
GERMANY |
13510.75 |
13382 |
13362.5 |
13514 |
13520 |
13536 |
13450 |
‘cess | ||
10:25:21PM |
US500 |
3275.02 |
3261 |
3258.5 |
3274 |
3277 |
3288 |
3255 |
‘cess | ||
10:32:06PM |
DOW |
28961 |
28820 |
28755.5 |
28970 |
28985 |
29026 |
28832 |
Success | ||
10:33:51PM |
NASDAQ |
8994.62 |
8914 |
8900 |
8977 |
9005 |
9026.75 |
8914 |
Success | ||
10:36:48PM |
JAPAN |
23774 |
23632 |
23600.5 |
23786 |
23786 |
23809 |
23660 |
‘cess |
9/01/2020 FTSE Closed at 7598 points. Change of 0.32%. Total value traded through LSE was: £ 5,708,798,775 a change of 5.62%
8/01/2020 FTSE Closed at 7574 points. Change of 0.01%. Total value traded through LSE was: £ 5,404,992,564 a change of 14%
7/01/2020 FTSE Closed at 7573 points. Change of -0.03%. Total value traded through LSE was: £ 4,741,303,337 a change of 0.44%
6/01/2020 FTSE Closed at 7575 points. Change of -0.62%. Total value traded through LSE was: £ 4,720,635,792 a change of 20.67%
3/01/2020 FTSE Closed at 7622 points. Change of -100%. Total value traded through LSE was: £ 3,912,167,844 a change of 0%
30/12/2019 FTSE Closed at 7587 points. Change of 0%. Total value traded through LSE was: £ 3,213,676,764 a change of 0%
This post has already been read 712 times!
7/01/2020 FTSE Closed at 7573 points. Change of -0.03%. Total value traded through LSE was: £ 4,741,303,337 a change of 0.44%
6/01/2020 FTSE Closed at 7575 points. Change of -0.62%. Total value traded through LSE was: £ 4,720,635,792 a change of 20.67%
3/01/2020 FTSE Closed at 7622 points. Change of -100%. Total value traded through LSE was: £ 3,912,167,844 a change of 0%
30/12/2019 FTSE Closed at 7587 points. Change of 0%. Total value traded through LSE was: £ 3,213,676,764 a change of 0%
This post has already been read 712 times!
3/01/2020 FTSE Closed at 7622 points. Change of -100%. Total value traded through LSE was: £ 3,912,167,844 a change of 0%
30/12/2019 FTSE Closed at 7587 points. Change of 0%. Total value traded through LSE was: £ 3,213,676,764 a change of 0%
This post has already been read 712 times!
This post has already been read 712 times!