Wall St for 1/04/2020

#CAC40 #Gold #DOW Traditionally, we would consider producing some sort of absurd analysis for 1st April in homage to April Fools Day. However, about the best we hope for is a grinning Prime Minister saying “gotcha” on the pavement outside Downing St. Somehow, this appears as unlikely as our immediate positive outlook against the Dow Jones.

Following a truly confused day, the index managed to close at 21,927 points. It “only” needs above 22,480 to be viewed as entering a cycle to an initial 23,126 points with secondary, if exceeded, calculating up at 24,725 points. These numbers are supposed to be “Big Picture” scenario but thanks to the width of many recent daily movements, it would not take much for a day to go utterly crazy.

However, we have some doubts. As the chart inset highlights, the US market opted to pay homage to the Blue downtrend, ensuring the index failed to break upward. This being the case, it appears some reversal shall be on the cards.

Weakness now below 21,850 computes with an initial drop target at 21,606 points. If broken, secondary is at 21,406 points but importantly, the index shall find itself in a zone where a sharp reversal to 20,640 becomes painfully possible.

Always remember we are looking at The Dow only and NOT after-hours futures.

 

Finally, a lot has been said about Virus Tourists, these folk turning up at remote locations with Mobile Homes and Caravans, or in the case of Prince Charles, by private jet. Here in Argyll, Scotland, a new type of tourist has appeared. A few reasonably sized boats have dropped anchor in the bay, presumably fully stocked with toilet roll and booze as the occupants have not ventured ashore. To be fair, envy is the only emotion and hopefully, the weather remains calm for the occupiers.

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

10:22:14PM

BRENT

26.03

‘cess

10:24:13PM

GOLD

1578.88

1573

1567.5

1542

1603

1618

1633

1653

1592

Success

10:26:19PM

FTSE

5594.23

‘cess

10:28:35PM

FRANCE

4345.2

4315

4289.5

4230

4346

4433

4454

4507

4356

Success

10:50:44PM

GERMANY

9794.86

‘cess

10:53:19PM

US500

2578.47

Shambles

10:56:23PM

DOW

21868

‘cess

10:58:02PM

NASDAQ

7800.62

Success

10:59:54PM

JAPAN

18672

Sorry

31/03/2020 FTSE Closed at 5671 points. Change of -1.6%. Total value traded through LSE was: £ 7,996,950,957 a change of 37.36%
30/03/2020 FTSE Closed at 5763 points. Change of 4.59%. Total value traded through LSE was: £ 5,821,744,739 a change of -29.22%
2

 

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