FTSE for 25/03/2020

#France #Nasdaq Unable to recall seeing a 9% UP day on the FTSE, intraday traffic certainly deserved some scrutiny. The big surprise came from the FTSE “closing” number of 5446 points. This was a shock because the FTSE actually closed at 5367 with a 7.5% rise. Everything else came from the mystery moment of the day, called “clearing”. For the average punter, even a 7.5% day gives some considerable hope.

Annoying to say, we hadn’t bothered to give any form of rising scenario in our report yesterday, simply due to the UK index needing above 5890 at present to simply suggest the rate of descent has eased. Everything else risks being smoke and mirrors, due to the UK market already triggering serious longer-term droop potentials. However, we shall suspend disbelief and pretend we’re confident further near term rises shall prove viable.

Should the FTSE now continue above 5460 points, an initial 5616 becomes the initial calculation. If exceeded, our secondary works out at 5799 points. As the chart below highlights, the secondary certainly comes close to interfering with the Blue downtrend in the next few days. As always, there’s a fly in the ointment, due to the market already having tripped some pretty major reversal potentials. Our rule of thumb is basic, when rises occur following a drop trigger, we tend believe in our primary targets but expect a rise to fade before the secondary. Only once secondary targets are exceeded does a strong probability present of “bottom” being in.

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We suspect an attempt is being made to stabilise the markets during this current “House Arrest” phase of Covid-19. To be honest, despite rarely interacting with the outside world, the fact I cannot is already causing frustration.

 

A reverse scenario triggers, should the FTSE wander below 5160 points as reversal to an initial 5095 makes sense. Secondary, if broken, works out at 4977 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

9:33:45PM

BRENT

29.59

‘cess

9:36:44PM

GOLD

1630.02

Success

9:39:07PM

FTSE

5428.99

Success

9:40:28PM

FRANCE

4235

4058

4018.5

3939

4148

4257

4327

4394

4155

Success

10:00:30PM

GERMANY

9658.28

Success

10:02:19PM

US500

2450

‘cess

10:07:08PM

DOW

20743

Success

10:09:12PM

NASDAQ

7570.24

7147

7072

6901

7382

7585

7678

7772

7380

Success

10:11:48PM

JAPAN

19241

Success

24/03/2020 FTSE Closed at 5446 points. Change of 9.07%. Total value traded through LSE was: £ 8,589,991,645 a change of -7.97%
23/03/2020 FTSE Closed at 4993 points. Change of -3.8%. Total value traded through LSE was: £ 9,333,810,024 a change of -32.33%
20/03/2020 FTSE Closed at 5190 points. Change of 0.76%. Total value traded through LSE was: £ 13,793,008,167 a change of 30.09%
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%

 

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