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).

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.

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%