FTSE for 24/01/2020

#FTSE #DAX As Davos snowploughs to an end, shall we see the FTSE exhibit its ‘usual’ January bounce or are we about to experience a giant slalom, through a mogul field, populated by the visually impaired on snowboards? Please remember we are analysing the FTSE, not After Hours Futures.

Presently trading around the 7,500 level, the FTSE needs below 7356 to inspire serious alarm. Movement such as this risks taking the market into territory where weakness to an initial 7,000 points becomes possible. Secondary calculates at 6,593 points. Thankfully, the visuals associated with such a trigger event seem fairly unlikely (except for the glass floor at the 7000 level), this making us suspect market reversal is not on the immediate cards. Obviously, ‘stuff’ happens which cannot be factored in but for the present, there’s a lack of force pointing downward. This week, while fairly grotty, has not yet triggered anything scary.

Near term, below 7,503 looks capable of provoking reversal down to 7,469 points. If broken, secondary calculates at 7,412 points. Neither reversal point comes close to challenging the uptrend since 2018.

The other side of the coin, a rather more optimistic outlook, looks at what we should expect if (when) the index exceeds 7,690 points?

Initially, we’re looking for travel up to an initial 7,868 points with secondary, when bettered, up at 8,304 points.

Near term, above 7,530 points calculates with an initial ambition at 7,559 points. If exceeded, our secondary comes in at 7,589 points and gives quite a lot of hope for continued market recovery next week. Curiously, there’s a Glass Ceiling awaiting at 7,630, a point where some hesitation is possible. But as the index will be trading in a zone with a 3rd target level of 7,684 – virtually at the trigger level for Long Term movement, we’re presently inclined toward optimism.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:09:04PM	BRENT	61.55	60.68	60.25		62.1	61.7	62.36		61
10:12:19PM	GOLD	1563.56	1558	1556.75		1567	1569	1574		1556	‘cess
10:18:15PM	FTSE	7551.81	7500	7523.25		7546	7562	7592		7518	‘cess
10:20:26PM	FRANCE	6005.2	5959	5945		6009	6023	6042.5		5977	‘cess
10:23:35PM	GERMANY	13487	13378	13339		13476	13498	13540		13409	‘cess
10:26:07PM	US500	3327.22	3311	3301		3318	3328	3331		3312	‘cess
10:30:48PM	DOW	29168	28958	28894		29112	29193	29274.5		29112	Success
10:34:57PM	NASDAQ	9440.37	9173	9154.5		9204	9244	9267		9184	‘cess
10:37:23PM	JAPAN	23807	23640	23570		23793	23835	23926.5		23760	Success

 

23/01/2020 FTSE Closed at 7507 points. Change of -0.85%. Total value traded through LSE was: £ 5,371,375,210 a change of -4.17%

22/01/2020 FTSE Closed at 7571 points. Change of -0.51%. Total value traded through LSE was: £ 5,604,978,241 a change of 11.63%

21/01/2020 FTSE Closed at 7610 points. Change of -0.54%. Total value traded through LSE was: £ 5,020,947,785 a change of 18.76%

20/01/2020 FTSE Closed at 7651 points. Change of -0.3%. Total value traded through LSE was: £ 4,227,858,188 a change of -33.49%

17/01/2020 FTSE Closed at 7674 points. Change of 0.85%. Total value traded through LSE was: £ 6,356,734,989 a change of 21.03%

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%