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.

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

10:09:04PM

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%

 

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