#Brent #Dow A day which started badly ended worse. Thankfully we’d a bit of a clue in the opening second as the #FTSE was spiked UP to 6135 points. Regular readers will be aware of our horror at opening second spikes but this one defied logic. Within a few minutes, the index was trading higher than the opening spike, so things should have been safe.
By 11am, some sort of miserable news hit the markets world-wide and painful reversals began, a series of movements that felt like no recovery would be possible. Needless to say, the FTSE was the world index performing worse, managing to close Thursday’s session 3.5% down and just below our early warning “here comes trouble” level of 5,910 points. Unsurprisingly, the real culprits were members of the Oil & Gas Sector, this nasty little segment of the market achieving a 10% reversal at one point, making the FTSE appear really foul.
Elsewhere, while plenty of negative travel ensued, Wall St for instance achieved a non-threatening low of 24,186 points. There’s a pretty solid risk, if Wall St trades below 24,180 we calculate possible reversal to 23,780 as possible but we’ve doubts. The US market didn’t feel like it wanted to fall further, closing the day just 1.17% down.
If we dwell on the dangers, below 5,888 looks capable of reversal to 5,823 points initially with secondary, if broken, calculating at 5,719 points. If triggered, the tightest stop looks like 5,940 points.
Alternately, it appears strength exceeding 5,940 should prove capable of an initial 6,004 points with secondary, if bettered, at 6,078 points.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:45:07PM | BRENT | 26.74 | 24.7 | 23.84 | 26.11 | 27.04 | 28.265 | 24.65 | |||
| 9:47:44PM | GOLD | 1683 | 1680 | 1672 | 1699 | 1722 | 1729 | 1708 | Shambles | ||
| 9:50:43PM | FTSE | 5842.23 | 5831 | 5817.5 | 5900 | 5968 | 5985.5 | 5891 | ‘cess | ||
| 9:53:04PM | FRANCE | 4544 | 4520 | 4479 | 4572 | 4595 | 4617.5 | 4549 | Success | ||
| 9:55:20PM | GERMANY | 10763 | 10742 | 10695 | 10862 | 10959 | 11052.5 | 10840 | ‘cess | ||
| 9:57:21PM | US500 | 2891.15 | 2885 | 2864 | 2927 | 2939 | 2950 | 2890 | |||
| 10:21:04PM | DOW | 24210 | 24174 | 23998 | 24415 | 24590 | 24692 | 24268 | ‘cess | ||
| 10:23:07PM | NASDAQ | 8876.82 | 8866 | 8843 | 8964 | 9012 | 9065.5 | 8920 | ‘cess | ||
| 10:25:31PM | JAPAN | 19920 | 19800 | 19665 | 20010 | 20170 | 20242 | 19970 | Success |
