#Brent #DAX Dislocating a shoulder, due to our FTSE for FRIDAY, ensured a good weekend! We projected 6482 points. The market closed at 6484 points and 2.2% up, justifying a hard self inflicted thump on the back. The we noted our last review of the #DOW at the end of miserable March included a “HOWEVER” in capital levels, essentially suggesting reservations over our negative analysis.
The particular “However” threatened a surprise recovery of 2,000+ points. Due to the Dow Jones presently surfing around 27,000 points, we should probably update our thoughts as it has outstripped all near term logic. Chatting to a trader, mentioning the US market had “only” recovered a couple of million jobs in Fridays report should be seasoned against the reality the country had lost over 20 millions jobs due to the pandemic. His immediate, glib answer; ‘they’ll all come back, no worries’. This also tends disregard the threat of further Coronavirus issues, due to large numbers demonstrating and visually ignoring any demand for social distancing.
It all feels slightly mad, yet this attitude doubtless assisting the US market achieving a stonking 3.1% up day on Friday. We truly hope we shall not see a return to large numbers of people suffering further Covid-19 infections in just a few weeks. Obviously, this shall once again risk a panic response by government, along with another hammering for share prices.
Of course, if there is NOT another massive round of case in the next fortnight, it will be reasonable to ask whether government response with the initial pandemic was misguided?
As for as Wall St, the Dow Jones Index, is concerned, it has now outperformed the Covid-19 drop and has eased into territory where some quite extraordinary figures are allegedly available. Next above 27,340 will be seen as entering a further cycle to an initial 28,233 points. If exceeded, secondary works out at 29,316 points. Glancing at the chart below, the secondary ambition feels truly immoral, an attempt at the previous all time high against a back ground of the USA suffering a 100,000 death toll.
If we apply our “if it were a share” argument, we’re able to now point out the DOW has a longer term ambition above 31,000 points.
For it all to go wrong, Wall St needs slip below Blue on the chart to start alarm bells ringing loudly. Presently, this critical level is at 26,250 points. We would warn, any market movement capable of “gapping” the index back below Blue screams one thing. ‘Go Short and Wait!’.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:34:35AM | BRENT | 41.94 | 40.12 | 39.64 | 38.66 | 41.4 | 42.58 | 45.74 | 54.65 | 39 | Success |
| 11:39:07AM | GOLD | 1686.3 | Success | ||||||||
| 12:12:37PM | FTSE | 6451.15 | ‘cess | ||||||||
| 12:14:40PM | FRANCE | 5166.5 | Success | ||||||||
| 12:18:27PM | GERMANY | 12755.98 | 12515 | 12431.5 | 12287 | 12662 | 12865 | 12904 | 13222 | 12515 | Success |
| 12:21:47PM | US500 | 3189.27 | Success | ||||||||
| 12:25:28PM | DOW | 27089.8 | Success | ||||||||
| 12:28:14PM | NASDAQ | 9810.75 | Success | ||||||||
| 12:30:25PM | JAPAN | 23164 | Success |
5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%
4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%
3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%
2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%
1/06/2020 FTSE Closed at 6166 points. Change of 1.48%. Total value traded through LSE was: £ 4,710,780,672 a change of -60.33%
29/05/2020 FTSE Closed at 6076 points. Change of -2.28%. Total value traded through LSE was: £ 11,874,374,361 a change of 71.67%
28/05/2020 FTSE Closed at 6218 points. Change of 1.2%. Total value traded through LSE was: £ 6,916,892,220 a change of -17.92%