FTSE for FRIDAY 21/02/2020

#FTSE #DOW #SP500 #DAX The period since the Brexit vote has proven quite stagnant from a FTSE perspective. Essentially, the market has produced a horizontal line at 7,215 points, moving above, moving below, but generally staggering back to the flat line. Thus far, every attempt to break this hiatus has failed, the UK index requiring movement above 7,850 to give a realistic signal for coming real growth. We can calculate an initial 7,950 with secondary at 8,200 points.

Alternately, weakness below 7,070 will probably give early warning for an iceberg ahead, taking the market into a zone with 5,850 looking like an attractive drop target!

Our usual rules, when this sort of nonsense appears, tell us to judge matters from a Big Picture perspective. Given this excruciatingly boring period commenced with an all time high on the FTSE, the suggestion is to expect the best. Therefore, if we treat the FTSE in a similar fashion to a share, apparently 8,200 has become a believable ambition! Time will tell.

Closer to home, the final 30 minutes of trade on Thursday saw the FTSE experience a near 50 point reversal, giving an otherwise lacklustre day a pretty solid kicking. It has created the situation where weakness continuing below 7442 points (Not as an opening second drop spike!) could generate traffic down to an initial 7417 points. If broken, secondary comes in at 7375 points.

However, if the drop was as contrived as it felt, more probable appears to be strength beyond 7470 leading to an initial 7492 points. If exceeded, secondary calculates at 7512 points. Balancing this, recently Fridays tend to be pretty useless and we’ll not be surprised to witness a bounce at 7417 points anyway.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:18:37PM	BRENT	58.6	58.6	58.215		59.34	59.68	59.98		58.6	‘cess
10:20:31PM	GOLD	1620.06	1613	1610.5		1621	1624	1629		1616	‘cess
10:23:03PM	FTSE	7450.79	7420	7403		7462	7481	7499.5			Shambles
10:24:32PM	FRANCE	6085.7	6054	6044		6104	6110	6129.5		6084	‘cess
10:27:21PM	GERMANY	13712.46	13645	13612		13713	13783	13806		13734	Shambles
10:29:26PM	US500	3367.97	3347	3334		3368	3388	3392.5		3373	Success
10:32:12PM	DOW	29177	29011	28875.5		29201	29236	29325		29125	Success
10:34:01PM	NASDAQ	9613	9536	9528		9593	9733	9821		9671	Success
10:37:04PM	JAPAN	23492	23410	23291.5		23516	23673	23796.5		23520

 

20/02/2020 FTSE Closed at 7436 points. Change of -0.28%. Total value traded through LSE was: £ 6,254,655,479 a change of 11.64%

19/02/2020 FTSE Closed at 7457 points. Change of 1.29%. Total value traded through LSE was: £ 5,602,530,865 a change of -6.87%

18/02/2020 FTSE Closed at 7362 points. Change of -0.96%. Total value traded through LSE was: £ 6,015,855,072 a change of 44.99%

17/02/2020 FTSE Closed at 7433 points. Change of 0.32%. Total value traded through LSE was: £ 4,149,027,770 a change of -24.37%

14/02/2020 FTSE Closed at 7409 points. Change of -0.58%. Total value traded through LSE was: £ 5,485,879,910 a change of -17.68%

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%