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…

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

10:13:05PM

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%

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