#Brent #DOW The decision to move the first May Monday holiday to a Friday, made before Covid-19 became a thing, has produced a trading week for the markets which felt strange. Essentially, in addition to utterly insane conditions, the #FTSE has suffered a week deserving of the term; ‘Demob Happy’. Thankfully, we managed to notice the looming Bank Holiday, shuffling our popular FTSE for FRIDAY report forward a day.
It’s probably worth noting this week has seen the UK index fall below the uptrend established, since the initial Covid-19 drop. We wonder if a further sharp reversal will occur, should the Financial Times updated mortality report gain attention. Discovering our country issued nearly 43,000 more death certificates than ‘normal’ during March and April provided a platform for a truly horrific set of numbers. It ensured the UK took the leaderboard rather convincingly for Europe, when the same counting method was applied. Surprisingly, Israel who didn’t hesitate to employ mobile phone tracing to track and trace the infected somehow managed to experience a drop in deaths! Norway and South Africa also experienced similar.
With a final nod to the FT’s addiction to death, across the 21 countries for which they collated mortality data, there were 182,000 more deaths than expected during the period surveyed. This number is 64% higher than the total being reported as “Covid-19” in the period!
We’re probably giving the impression you could dangle a bundle of numbers in front of us and we’d chase them like a puppy going after a leaf in the wind. Perhaps there’s some truth there.
As for the FTSE and its numbers, it looks like some reversal should be expected on Thursday. Weakness next below 5,839 looks capable of attempting a pretty tame sounding 5,821 points. If broken, secondary is at 5,796 points. Neither ambition points to extreme volatility on this, our last day of the week. We’d be remiss if we didn’t find something to be really gloomy about and it’s the calculation, should 5,796 break. Apparently 5,690 becomes viable, taking the FTSE into territory where there’s a risk of Covid-19 levels of panic volatility.
Visually, the FTSE needs only nudge above 5,910 to re-enter the land of sweetness and light, allowing movement to a near term 6,036 with secondary, if bettered, working out at 6,075 points.
Finally, remember 3 things. We are discussing the FTSE and not out of hours futures. You don’t need to have fun to drink. And enjoy the weekend.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
9:57:40PM |
BRENT |
30.03 |
28.85 |
28.385 |
27.13 |
30.84 |
32.15 |
32.38 |
36.79 |
29 |
|
|
9:59:21PM |
GOLD |
1686.61 |
‘cess |
||||||||
|
10:01:18PM |
FTSE |
5814.31 |
‘cess |
||||||||
|
10:04:04PM |
FRANCE |
4404.9 |
|||||||||
|
10:25:40PM |
GERMANY |
10538 |
Sorry |
||||||||
|
10:27:54PM |
US500 |
2843.87 |
Shambles |
||||||||
|
10:29:56PM |
DOW |
23634 |
23601 |
23529.5 |
23316 |
23771 |
24103 |
24271.5 |
24495 |
23926 |
|
|
10:32:39PM |
NASDAQ |
8966.05 |
‘cess |
||||||||
|
10:34:49PM |
JAPAN |
19370 |
6/05/2020 FTSE Closed at 5853 points. Change of 0.07%. Total value traded through LSE was: £ 6,196,887,003 a change of 18.35%
5/05/2020 FTSE Closed at 5849 points. Change of 1.67%. Total value traded through LSE was: £ 5,236,126,168 a change of -8.24%
4/05/2020 FTSE Closed at 5753 points. Change of -0.17%. Total value traded through LSE was: £ 5,706,354,809 a change of 60.68%
1/05/2020 FTSE Closed at 5763 points. Change of -2.34%. Total value traded through LSE was: £ 3,551,403,027 a change of -92.77%
30/04/2020 FTSE Closed at 5901 points. Change of -3.5%. Total value traded through LSE was: £ 49,092,686,584 a change of 648.68%
29/04/2020 FTSE Closed at 6115 points. Change of 2.64%. Total value traded through LSE was: £ 6,557,213,009 a change of 3.88%
28/04/2020 FTSE Closed at 5958 points. Change of 1.92%. Total value traded through LSE was: £ 6,312,043,698 a change of 37.73%