FTSE for FRIDAY 7/02/2020

#FTSE #Gold #DOW ‘The Week The World Didn’t End’ would best describe February’s first few days. Brexit day came, flags were shuffled, nothing happened, and the band played on. The FTSE appears to have noticed this, now it’s poised for some gains in the days ahead. At least, we think so.

Our favored refrain, ‘if it were a share’ is especially valid at present, recent movements presenting a pretty strong argument in favour of a cycle commencing up to almost 7,900 points.

Of course, there’s a problem thanks to movement of the last week suggesting a stutter around the 7,700 level. Visually, this presents a slight problem, matching the high of mid January, thus perfectly able to cause some hesitation. However, achieving the 7,700 plateau would also break the downtrend since May 2018, creating a situation where positive market sentiment will find growth hard to restrain.

Hopefully all politicians keep quiet, the Coronavirus drama fades out, and newspaper headline writers start to behave responsibly, especially the pair of muppets who appear on Sky’s Newspaper review program!

Near term, FTSE strength exceeding 7534 points looks capable of a rise to an initial 7588 points. If bettered, secondary calculates at 7605 points. If triggered, the tightest stop looks like 7485 points.

The other side of the coin will be movement below 7470 points, risking reversal to 7435 points initially. If broken, secondary is a bottom (hopefully) at 7407 points. If triggered, tightest stop is at 7521 points.

Our inclination is toward optimism, the prospect of a lazy weekend perhaps fuelling gullibility levels…

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:13:05PM	BRENT	55.21	54.64	54.215		55.47	56.6	57.415		55.53	‘cess
10:15:15PM	GOLD	1567	1554	1548.5		1563	1569	1571		1556	‘cess
10:19:24PM	FTSE	7519.91	7467	7453.5		7520	7536	7585.25		7481
10:22:10PM	FRANCE	6040	6005	5995.5		6043	6049	6065		6012	‘cess
10:24:48PM	GERMANY	13586	13527	13498.5		13576	13602	13630		13532	‘cess
10:27:30PM	US500	3350.04	3333	3321.5		3351	3357	3361		3333	Success
10:30:27PM	DOW	29399.6	29298	29234		29450	29450	29556		29300	‘cess
10:31:54PM	NASDAQ	9455.24	9353	9318		9428	9456	9486.5		9380
10:34:31PM	JAPAN	23987	23664	23548.5		23780	23997	24028		23848	Success

 

6/02/2020 FTSE Closed at 7504 points. Change of 0.29%. Total value traded through LSE was: £ 6,200,545,970 a change of -22.21%

5/02/2020 FTSE Closed at 7482 points. Change of 0.58%. Total value traded through LSE was: £ 7,970,542,064 a change of 19.14%

4/02/2020 FTSE Closed at 7439 points. Change of 1.54%. Total value traded through LSE was: £ 6,690,102,462 a change of 18.21%

3/02/2020 FTSE Closed at 7326 points. Change of 0.55%. Total value traded through LSE was: £ 5,659,461,897 a change of -7.45%

31/01/2020 FTSE Closed at 7286 points. Change of -1.29%. Total value traded through LSE was: £ 6,115,076,170 a change of 9.99%

30/01/2020 FTSE Closed at 7381 points. Change of -1.36%. Total value traded through LSE was: £ 5,559,853,454 a change of 15.61%

29/01/2020 FTSE Closed at 7483 points. Change of 0.04%. Total value traded through LSE was: £ 4,809,159,339 a change of -5.83%