FTSE for Friday 20/03/2020

#FTSE #GOLD #Brent This week has been a long month and we’re far from confident things shall relax. We felt victims of a practical joke by the FTSE, thanks to our demand the index exceed 5181 to give a promise of happy times ahead. The day high on Thursday was, of course, 5181 points at 4pm. In case anyone had been drawing trend lines, based on our trigger level, regrettably this number has nothing to do with trends, instead it’s a strength calculation (aka; nerd gibberish)

From our perspective, the immediate market cannot be trusted to give trend lines any particular meaning. The S&P 500 provides an excellent illustration for the state of the markets, the index making an utter joke of any attempt to paint a downtrend, an unrelenting picture of despair as it lost 1,000 points in a month. While the trend line can obviously be nudged around the screen, about the only thing remaining is the word “maybe” if attempting to pick a signal for recovery.

Instead, we prefer our own methods at present, demanding near term calculations be exceeded before daring exhibit any real hope for a bounce. To use a technical term, the market is “pretty insane” currently!

Hey, chart goes here

FTSE; Once again, despite the market refusing to exceed our 5181, the visuals give some hope for some near term solace. Above 5181 now looks capable of an initial trivial 5238 with secondary, if exceeded, calculating up at 5309 points. Above 5309 looks like 5388 could follow pretty sharply.

 

The alternate position now is of weakness below 4942 bringing reversal to 4855. If broken, secondary comes along at 4,770 points.

 

There is a quite awful feel to things at present, suggesting we are just experiencing a hiatus on the way down. The FTSE realistically needs trade above BLUE, presently 6,000 points, simply to suggest (pretty firmly) the rate of descent has eased.

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
9:55:35PM BRENT 29.2 26.5 26.045 28.3 30.52 31.2225 28.9 ‘cess
9:57:18PM GOLD 1471.67 1463.3 1454 1493 1496 1507.75 1472
10:00:22PM FTSE 5181.52 5082 5024.5 5181 5285 5340.5 5151 Success
10:02:21PM FRANCE 3819 3685 3644.5 3802 3925 3958 3823 ‘cess
10:05:02PM GERMANY 8538.72 8240 7978 8640 8821 8962.5 8589 Shambles
10:12:22PM US500 2355.75 2319 2290.5 2434 2467 2498.5 2376
10:14:58PM DOW 19756 18959 18572.5 19654 20505 20787 20010
10:16:39PM NASDAQ 7221.57 6890 6788 7270 7520 7721 7242 ‘cess
10:31:00PM JAPAN 17210 16684 16242.5 17170 17792 18047.25 17120 Success

 

 

19/03/2020 FTSE Closed at 5151 points. Change of 1.4%. Total value traded through LSE was: £ 10,602,721,602 a change of 9.14%
18/03/2020 FTSE Closed at 5080 points. Change of -4.04%. Total value traded through LSE was: £ 9,714,451,101 a change of 6.42%
17/03/2020 FTSE Closed at 5294 points. Change of 2.78%. Total value traded through LSE was: £ 9,128,689,221 a change of -13.38%
16/03/2020 FTSE Closed at 5151 points. Change of -4.01%. Total value traded through LSE was: £ 10,538,775,450 a change of -6.31%
13/03/2020 FTSE Closed at 5366 points. Change of 2.46%. Total value traded through LSE was: £ 11,248,883,463 a change of 60.84%
12/03/2020 FTSE Closed at 5237 points. Change of -10.87%. Total value traded through LSE was: £ 6,993,953,766 a change of -24.85%
11/03/2020 FTSE Closed at 5876 points. Change of -1.41%. Total value traded through LSE was: £ 9,307,244,216 a change of -11.98%

 

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