FTSE & Free Futures 6/03/2020

#FTSE, #DAX, #DOW Few things are as enjoyable as having an entire swimming pool to yourself. A lingering cold ensured a visit to a local fitness club and its pint  sized pool was avoided. Finally couldn’t take it any more, visiting during Thursday afternoon. An hour of peace and quiet, none of the regular “walrus” swimmers breast stroking their incessant lengths. Better still, the childrens pool was also empty, no mothers and screaming babies. Being alone on a racing circuit or ski slope gives similar levels of confidence, the realisation the only person to compete with is yourself.

And perhaps more importantly, no-one to see you foul up royally!

And then the penny dropped.

A virus with the name Covid-19 is already stopping people congregating, folk doing it quietly without fuss. Chatting to the pool staff, visitor numbers are apparently reduced, the suspicion being customers are simply taking sane precautions. This is in Argyll, Scotland, literally one of the least populated parts of the UK, traditionally the last place to declare General Election results. This is due to bad weather stopping helicopters bringing ballot boxes from the islands. Once, the predecessor of Royal Mail experimented with firing mail by rocket across some sea narrows. At this time of year, we’re not exactly tripping over tourists and a virus will need work hard to spread.

There had been a quiet boycott of a Chinese takeaway, thanks to the place shutting for a week for the new year. The owners returned from visiting their family, discovering a sharp drop in trade thereafter. Eventually, a local social media campaign got the message across they’d only been visiting family in London and not HK, thus trade started to return.

Of course, this prompted the question. How are things over on the mainland?

At present, financial volumes through London are pretty useful, broadly speaking up 50% from the same period last year. The Brexit Hiatus shall forever be ingrained in memory and we’ve been seeing levels of trade increase, since last Decembers election brought what passes for clarity.

To focus on dangers, the other day the FTSE hit 6460 and bounced. We’re tending regard this as pretty significant as the real danger now points at weakness below this level now calculating with an initial 6243 points with secondary, when (not if) broken at 5858 points. These “big picture” numbers are broadly similar to our last set of calculations, suggesting the pace of movement has stabilised over the last few sessions – despite some utterly mad swings.

Another detail, one we’re not comfortable with, has been the behaviour of the FTSE in relation to RED on the chart. Last Friday, the index closed below the trend, a faux pas rapidly corrected. We shall be extremely alarmed now will closure below this level, presently at 6685 (roughly).

Hey, chart goes here

Nearer term, the FTSE is as complicated as usual. Weakness now below 6656 looks capable of reversal to an initial 6615 points. If broken, secondary calculates down at 6533 points. The other side of the coin comes with movement now above 6724 computing with an initial ambition at a useless 6743 points. In the event its exceeded, our secondary works out at a more interesting 6818 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

10:28:01PM

BRENT

50.11

49.92

49.65

48.26

51.07

51.82

52.33

53.2

49.85

‘cess

10:40:33PM

GOLD

1672.84

1654

1648.295

1639.59

1674

1674

1679.25

1696

1654

Success

10:44:41PM

FTSE

6625.26

6598

6587.5

6489

6670

6725

6780

6840

6659

‘cess

10:52:07PM

FRANCE

5284.3

5260

5240

5168

5320

5390

5439.5

5499

5304

Success

10:57:11PM

GERMANY

11799.22

11768

11732.5

11550

11865

11899

11925

11985

11767

‘cess

10:59:44PM

US500

3025.42

2997

2972

2946

3043

3082

3109

3146

3031

‘cess

11:04:00PM

DOW

26160

25933

25842

25419

26183

26354

26452

26625

26055

‘cess

11:05:45PM

NASDAQ

8671.62

8610

8530.5

8391

8744

8767

8811

8878

8628

11:12:03PM

JAPAN

20825

20728

20578.5

20288

20879

20915

20975

21023

20751

Success

 

5/03/2020 FTSE Closed at 6705 points. Change of -1.61%. Total value traded through LSE was: £ 8,096,440,019 a change of 2.53%

4/03/2020 FTSE Closed at 6815 points. Change of 1.44%. Total value traded through LSE was: £ 7,896,662,173 a change of -10.1%

3/03/2020 FTSE Closed at 6718 points. Change of 0.96%. Total value traded through LSE was: £ 8,783,341,942 a change of -20.21%

2/03/2020 FTSE Closed at 6654 points. Change of 1.12%. Total value traded through LSE was: £ 11,007,742,370 a change of -20.6%

28/02/2020 FTSE Closed at 6580 points. Change of -3.18%. Total value traded through LSE was: £ 13,863,850,185 a change of 59.9%

27/02/2020 FTSE Closed at 6796 points. Change of -3.49%. Total value traded through LSE was: £ 8,670,151,517 a change of 31.45%

26/02/2020 FTSE Closed at 7042 points. Change of 0.36%. Total value traded through LSE was: £ 6,595,554,712 a change of -16.85%
 

 

This post has already been read 161 times!

One Reply to “FTSE & Free Futures 6/03/2020”

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.