#FTSE #DOW News of The Bodyshop taking sides against Harry Potter author, JK Rowling, in the gender debate provoked a pile of emails, everyone essentially expecting Bodyshop shares to experience a “Ratner Moment”. There’s a bit of a wrinkle in the face cream, due to Bodyshop now being owned by a Brazilian traded organisation.
By any standards, it certainly appeared as odd, a cosmetics company choosing to side with “men who identify as women” rather than their presumed customer base, actual women. Surely, with all that’s going on in the world, there are more important things to discuss than a logic which allows a bloke to wake up one day and decide he must have the same rights as the opposite sex. But Twitter, being Twitter, decided the debate was the most important thing in the world for a while. The author, JK Rowling, doesn’t agree men in frocks should have access to female changing rooms etc. Obviously, some people felt death threats was the best way forward…
As for Natura, given this worldwide concern is based in Brazil and owns Bodyshop, Avon Cosmetics, and of course the Natura brand, it appears probable the Twitter storm shall pass their share price by. At present, the company is trading around 40 Brazilian Real, needing to weaken below 32 Real to justify raising a bush eyebrow. Such a state of affairs risks reversal to an initial 20 Real with secondary, if broken, at a bottom of 9.5 Real. Absolutely nothing about recent price movements suggests this is coming. Quite the opposite in fact as above 43 Real looks capable of achieving 52 eventually, a new all time high!
As for FTSE for FRIDAY, we can certainly question the markets parentage, just not its gender. Thursday dropped further than it should have and after hours futures continued the party, eventually reaching down to the 5,960 level. This was really not great, especially as we’d expected the reversal to pause around the 6,100 point. It creates a situation where it feels pretty certain the UK market shall be forced to open down on Friday.
We’re not confident we’ve a clue what to expect, thanks to FTSE Futures trading around 6,000 points at time of writing. If the UK market opts to open for business below 6028 points, there’s a bit of a problem as we’re looking at the potential of continued reversal toward 5911 points. If broken, secondary calculates at 5807 points.
The FTSE itself closed Thursdays session at 6,076 points, so we’re laying a scenario which permits some really strong reversals. Unlike our missive last Friday which proved extremely successful, we’re not terribly comfortable with this scenario.
It’s important to remember ‘after hours FTSE Futures’ can often be regarded as similar to a social media storm, something which rarely survives the cold light of day. In addition, the UK market did two quite concise things at the close of business on Thursday.
Firstly, reversal of the UK index (NOT after hours futures) stopped pretty firmly against the immediate Red uptrend. Secondly, the session closed at 6,076 points, matching but not exceeding, the previous low at the end of May. Both these details tend suggest some sort of bounce should happen. Fans of the pedantic will have noticed the FTSE also closed 0.1 points higher than the low at the end of May. Again, a very pedantic reason to favour a rebound.
In the event a miracle occurs and the UK market finds itself trading above 6123 points, recovery toward an initial 6157 is supposed to happen. If exceeded, our secondary calculation comes along at 6212 points.
To reiterate, we’re not confident we’ve a clue what to expect, other than a Friday and some good weather. 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 |
| 10:48:26PM | BRENT | 38.5 | 37.96 | 37.06 | 39.27 | 39.65 | 40.09 | 38.67 | Success | ||
| 10:50:02PM | GOLD | 1728.05 | 1721 | 1712.5 | 1735 | 1738 | 1746.5 | 1723 | ‘cess | ||
| 10:53:56PM | FTSE | 6007.31 | 5964 | 5789 | 6065 | 6047 | 6107.5 | 5990 | Success | ||
| 10:57:20PM | FRANCE | 4739.2 | 4732 | 4689 | 4836 | 4840 | 4872 | 4764 | Success | ||
| 11:00:00PM | GERMANY | 11842 | 11810 | 11752 | 11939 | 11940 | 12022 | 11830 | Success | ||
| 11:03:12PM | US500 | 3012 | 2997 | 2962 | 3027 | 3046 | 3085.5 | 3027 | Success | ||
| 11:06:50PM | DOW | 25230 | 25070 | 24969 | 25350 | 25440 | 25605 | 25240 | Success | ||
| 11:10:31PM | NASDAQ | 9617 | 9560 | 9470 | 9668 | 9687 | 9742 | 9588 | Success | ||
| 11:12:46PM | JAPAN | 21710 | 21598 | 21568.5 | 21817 | 21940 | 22046.5 | 21680 |
11/06/2020 FTSE Closed at 6076 points. Change of -4%. Total value traded through LSE was: £ 6,224,767,909 a change of 0.67%
10/06/2020 FTSE Closed at 6329 points. Change of -0.14%. Total value traded through LSE was: £ 6,183,586,009 a change of -20.17%
9/06/2020 FTSE Closed at 6338 points. Change of -2.07%. Total value traded through LSE was: £ 7,746,073,267 a change of -2.7%
8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%
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%
