Friday FTSE & Centrica

#FTSE #DOW Centrica must be tempting a bunch of folk hoping to jump in, viewing the price as a “bargain”. We have doubts, hoping it shall bounce around the 60p mark but worried, ‘cos if broken, the big picture suggests “bottom” may reside around 40p. Needs a miracle above the 90p level to foul up these prospects!

As for the FTSE for Friday, we’re more than a little concerned about the drop experienced on Thursday. When we issued our 10am report to clients, we’d speculated on the market achieving a bottom at 7407 points. Somehow or other, the FTSE contrived to reach 7406.9 around 11:30am, showing half hearted bounces in the period since. Despite a bunch of day traders doubtless viewing the chart, gleefully assuming “double bottom” and expecting Friday to show gains, we’re not entirely convinced. There’s something a bit funny going on with international futures – mainland Europe and the US behaving as if Friday should experience recovery, the FTSE rather less so.

Weakness now below 7406 points calculates with an initial drop target at 7368 points. If (when) broken, our secondary comes along at  7310 points and we’d hope for a real bounce at such a level. If triggered, tightest stop is at 7442 points.

In the event the market (the FTSE during trading hours) manages above 7442, our initial ambition is for movement to 7470 points. If bettered, secondary calculates up at 7503 points.

This week has been difficult and we suspect health fears have knocked the FTSE off its track to head to 7690 points

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

10:11:28PM

BRENT

56.48

55

54.505

 

55.81

56.8

57.1875

 

55.8

‘cess

10:13:24PM

GOLD

1576.78

1564

1559.5

 

1573

1579

1580.5

 

1571

Success

10:15:26PM

FTSE

7453.67

7402

7393.5

 

7452

7473

7483

 

7415

Success

10:17:25PM

FRANCE

6084.7

6025

5999

 

6063

6099

6116

 

6049

‘cess

10:19:27PM

GERMANY

13743.16

13667

13649

 

13732

13762

13789.5

 

13708

‘cess

10:21:48PM

US500

3380.07

3354

3344.5

 

3373

3381

3385.355

 

3363

‘cess

10:24:03PM

DOW

29465

29308

29234

 

29400

29528

29589.5

 

29411

Success

10:26:15PM

NASDAQ

9617.27

9514

9478.5

 

9590

9637

9665

 

9585

‘cess

10:28:24PM

JAPAN

23727

23564

23507.5

 

23679

23782

23823

 

23687

Success

 

13/02/2020 FTSE Closed at 7452 points. Change of -1.09%. Total value traded through LSE was: £ 6,664,066,181 a change of 30.17%

12/02/2020 FTSE Closed at 7534 points. Change of 0.47%. Total value traded through LSE was: £ 5,119,461,685 a change of -10.2%

11/02/2020 FTSE Closed at 7499 points. Change of 0.71%. Total value traded through LSE was: £ 5,701,269,309 a change of 0.17%

10/02/2020 FTSE Closed at 7446 points. Change of -0.27%. Total value traded through LSE was: £ 5,691,847,581 a change of -12.91%

7/02/2020 FTSE Closed at 7466 points. Change of -0.51%. Total value traded through LSE was: £ 6,535,596,145 a change of 5.4%

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%

 

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