FTSE for FRIDAY 10/01/2020

#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.

Hey, chart goes here
FUTURES

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 153 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.