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.

Hey, chart goes here

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.

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

10:18:37PM

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%

 

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