#FTSE #Nasdaq Numbers are funny things. The Nasdaq exceeds 10,000 points and it’s front page news. Politicians kill 64,500 people in the UK and 98,000 people in the USA, the media try to ignore it. Thankfully, even the BBC appear to be taking note of Boris’s world beating number, publishing their own analysis, matching the FT’s on the true number of UK deaths. Pro-rata, Boris has beaten Trump hands-down when it comes to killing of the population.
But we’re a little unsettled at a stock market achieving all time highs against a backdrop of record unemployment, funeral counts testifying as to how effective Boris has been in protecting the populace. The recovery of the FTSE from the Covid-19 lows in March makes us question how a country can be rated, neither excessive deaths, excess unemployment, excess business closures and excess liquidations making it feel like we’re in the grips of a Ponzi scheme, one of these things which end very badly with the realisation the emperor has no clothes.
To return to the reasoning for this immediate bout of confusion, the Nasdaq now looks capable of continued growth to 11,211 points. If exceeded, secondary is at 11,840 points and we can’t calculate any higher. Go figure! We would advocate a lot of caution, if the market gaps the Nasdaq below 9620 anytime soon.
, it’s worth remembering our Big Picture calculation demands the UK market exceed 6,750 before recovery can be taken seriously. Equally, below 6030 gives the first indication recovery is failing.
Near term, above 6,280 should prove capable of recovery continuing to an initial 6320 points. If exceeded, our secondary calculation works out at 6373 points. If triggered, the tightest stop is horribly wide at 6184 points. Perhaps 6245 will suffice but with the market producing volatile swings, we’re less than confident.
Below 6184 looks capable of triggering reversal to an initial useless 6160 points. If broken, secondary calculates at 6110 points and we’d hope for some sort of bounce at such a level.
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 |
| 9:33:59PM | BRENT | 41.52 | 40.35 | 40.105 | 41.61 | 41.74 | |||||
| 9:36:43PM | GOLD | 1723.88 | 1717 | 1711 | 1732 | 1738.5 | ‘cess | ||||
| 9:39:11PM | FTSE | 6215.27 | 6180 | 6159.5 | 6276 | 6287 | ‘cess | ||||
| 9:41:36PM | FRANCE | 4949.2 | 4903 | 4890 | 4980 | 4995.5 | ‘cess | ||||
| 9:43:31PM | GERMANY | 12266 | 12157 | 12040.5 | 12483 | 12614.5 | ‘cess | ||||
| 9:45:49PM | US500 | 3111 | 3084 | 3071.5 | 3136 | 3164 | Success | ||||
| 9:49:36PM | DOW | 26068 | 25746 | 25484.5 | 26301 | 26671 | ‘cess | ||||
| 9:51:58PM | NASDAQ | 10004 | 9877 | 9812 | 10042 | 10057.5 | |||||
| 9:54:54PM | JAPAN | 22387 | 22087 | 22033.5 | 22519 | 22539 | ‘cess |
18/06/2020 FTSE Closed at 6224 points. Change of -0.46%. Total value traded through LSE was: £ 4,516,542,486 a change of -22.67%
17/06/2020 FTSE Closed at 6253 points. Change of 0.18%. Total value traded through LSE was: £ 5,840,674,157 a change of -3.28%
16/06/2020 FTSE Closed at 6242 points. Change of 2.94%. Total value traded through LSE was: £ 6,038,997,708 a change of 21.55%
15/06/2020 FTSE Closed at 6064 points. Change of -0.67%. Total value traded through LSE was: £ 4,968,429,954 a change of -16.12%
12/06/2020 FTSE Closed at 6105 points. Change of 0.48%. Total value traded through LSE was: £ 5,923,571,843 a change of -4.84%
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%