#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!
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.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
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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