FTSE for FRIDAY 17/01/2020

#France #Nasdaq Since Dec 27th, the FTSE has experienced a 100 point range. This feeling of a “trapped market” hopefully has a chance to ease on Friday 17 Jan with the 3rd Friday intra-day auction at 10:15am. This exercise is designed to correct the value of the FTSE 100 index, clearing up any drift. Sometimes, it can also clear the log jam of a stalled market place.

We can hope! The fly in the ointment comes volumes traded through London being pretty low, thanks to the usual holiday malaise and this lack of trading tends ensure the FTSE Index value doesn’t drift too far from reality with little correction required. When this is considered, in conjunction with the lack of any real direction on the London index, we’re slightly lacking in confidence giving numbers today.

The market should be going up but isn’t. Equally, when reversals are triggered, the market is failing to drop.

The immediate situation for the FTSE calculates as follows. Movement now exceeding 7,651 is supposed to generate a loft to an initial 7,678 points, far from impressive. If exceeded, our secondary calculates at 7,729 points.

Alternately, if the FTSE now finds an excuse to stumble below 7,587 points, it’s supposed to experience some reversal to an initial 7,567 points with secondary, if broken, down at 7,539 points. This sort of nonsense keeps the UK market safely constrained within the straightjacket of a trapped market.

It’s almost like the FTSE is awaiting something important happening before showing its hand. As mentioned earlier, the underlying forces are of an upward expectation, the market needing below 7,225 points to force us to question our optimism for the future. Unless something punctures the 7,225 level, there’s a growing series of calculations suggesting the UK could even aspire to a high of 8,300 points sometime this year.

Near term, we’re far from confident with our expectations, suspecting Friday shall bring some reversals. This will even tie in with the index refusing to better BLUE on the chart, the downtrend since 2018.

 Have a good weekend.

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

10:20:59PM

BRENT

64.19

               

10:22:43PM

GOLD

1553.08

               

10:27:23PM

FTSE

7624.23

               

10:30:49PM

FRANCE

6050.5

6018

6007.5

5991

6044

6052

6059

6072

6024

10:34:42PM

GERMANY

13469

               

Shambles

10:38:41PM

US500

3317.32

               

Success

10:41:33PM

DOW

29297

               

‘cess

10:47:00PM

NASDAQ

9126.12

9045

9026.5

8993

9082

9127

9135

9147

9060

‘cess

10:49:27PM

JAPAN

24087

               

Success

16/01/2020 FTSE Closed at 7609 points. Change of -0.43%. Total value traded through LSE was: £ 5,252,079,163 a change of -22.59%

15/01/2020 FTSE Closed at 7642 points. Change of 0.26%. Total value traded through LSE was: £ 6,784,341,362 a change of 13.94%

14/01/2020 FTSE Closed at 7622 points. Change of 0.07%. Total value traded through LSE was: £ 5,954,176,416 a change of 15.24%

13/01/2020 FTSE Closed at 7617 points. Change of 0.4%. Total value traded through LSE was: £ 5,166,914,509 a change of -0.84%

10/01/2020 FTSE Closed at 7587 points. Change of -0.14%. Total value traded through LSE was: £ 5,210,689,793 a change of -8.73%

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%

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