#Brent #DAX At some point in a blokes life, daughter buys slippers for Xmas. She thinks it funny, he think them ridiculous but wears ’em, the result surprisingly comfortable. But a sole detaches one evening, a problem easily fixed with superglue. Fast forward to 3am, Europe and the US markets closed, Asia ended, finally it’s time for bed, the trading week has finished.
Finding the right-hand slipper is now glued to sock which is glued to skin proved utterly ridiculous, while hopping around the bedroom, trying to be discrete and avoid waking wife. A memory of an old ‘Andy Cap’ cartoon punch-line, “Never seen anyone try and take their trousers off over their head” emerges, along with a fit of the giggles. A true ‘you had to be there moment’ which thankfully lacked witnesses.
Five minutes later, wife proved quite acidic when using nail varnish remover to separate slipper, a sock, from a foot. Along with questioning why I’d felt it so important to stay up late, ‘just’ to watch the markets. To be honest, Asia wasn’t even open and I’d been watching something called “Star Trek:Picard”. Like slippers, surprisingly good.
In case no-one noticed, the world ended when the FTSE closed on Friday. If it were a share, we’d project it heading to around 6,600 eventually. Software suggests weakness now below 275 should reach an initial 7,090 with secondary, when broken, at 6,570. But really, we should now hope bottom somewhere in the 6,600 region.
In our earlier “FTSE for FRIDAY”, we’d speculated on a bottom of 7,280. The UK market closed the week at 7,279,65 points. (Or 7,286 after clearing by 5pm) But regardless, it closed at a calculated drop level.
Perhaps this means the 4 Horsemen are not galloping toward us as we rather doubt closing 0.35 of a point below our drop target gives reason to panic. It was only 0.004% wrong, well within our bounds of competence. In fact, we rather suspect if anything is galloping toward the market, it’s a rebound.
Should this ‘odour of rodent’ prove correct, the UK market need only exceed 7,328 to enter a cycle to an 7,400 points. If bettered, secondary is up at 7,508 points where we need review the tea leaves quite urgently, due to 200 point gains calculating as possible.
Life just got interesting!
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
5:37:44PM |
BRENT |
56.64 |
55.75 |
51.425 |
43.62 |
62.8 |
57.77 |
58.195 |
58.96 |
56.3 |
‘cess |
5:40:18PM |
GOLD |
1589.75 |
‘cess | ||||||||
5:49:31PM |
FTSE |
7265.58 |
Success | ||||||||
5:52:43PM |
FRANCE |
5782 |
Success | ||||||||
10:15:30PM |
GERMANY |
12944 |
12919 |
12853 |
12689 |
13011 |
13031 |
13075 |
13139 |
12921 |
Success |
10:17:51PM |
US500 |
3229.17 |
Success | ||||||||
10:23:11PM |
DOW |
28284.2 |
Success | ||||||||
10:25:48PM |
NASDAQ |
9009.12 |
Success | ||||||||
10:29:11PM |
JAPAN |
22697 |
‘cess |