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

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%