FTSE for FRIDAY 28/08/2020

#FTSE #DAX Numbers are important. It’s 2 days until the next Grand Prix, 2 weeks ago my heart decided to try a different beat rather than “The Rhythm of Life” and the FTSE nearly closed 2 points below its last lowest low. Okay, 1.9 points for the pedants.

 

We’ve a thing about “lower lows”, even when they appear contrived. Quite how the FTSE managed to close a session at 5999.99 points amazed us but yes, it was below the prior low on August 21st of 6001.89 points. This means we must now prepare for the worst, despite the market almost being at the end of the month, along with the UK facing a holiday weekend of traffic jams, effectively ‘enjoying’ the final bank holiday of the year.

 

So what does this danger signal mean?

 

Apparently movement next below 5,988 points should trigger a reversal cycle toward an initial 5,895 points with secondary, when broken, at a bottom hopefully of 5,758 points. What fascinates about this large haul of points is the tightest Stop level working out at 6,042 points. We’re smelling a bit of a rat, thanks to it being the end of a month, a holiday weekend, a Friday, and a more than reasonable “Risk/Reward” scenario. Historically, the UK stock market isn’t a generous entity!

And what happens, if the market indeed makes it above 6,042 points? We’re looking for recovery to a fairly tame 6,058 points initially with secondary, if exceeded, a more promising 6,110 points.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:20:50PM	BRENT	45.63	45.27	45.095		45.85	46.32	46.58		45.57	Success
9:22:41PM	GOLD	1928	1918	1908		1936	1936	1940.5		1921	Success
9:42:46PM	FTSE	6016	5985	5970.5		6020	6062	6075		6023
9:49:11PM	FRANCE	4999.5	4985	4970		5021	5049	5064.5		5003
9:51:17PM	GERMANY	13086.09	13050	13001.5		13120	13147	13169.5		13077
9:54:00PM	US500	3488	3467	3454		3497	3502	3511		3477
9:57:39PM	DOW	28532	28267	28125		28476	28638	28678		28521	Success
10:01:44PM	NASDAQ	11950	11837	11784.5		11983	12050	12110		11870	‘cess
10:03:36PM	JAPAN	23243	23141	23074		23225	23276	23322.5		23176

 

27/08/2020 FTSE Closed at 5999 points. Change of -0.73%. Total value traded through LSE was: £ 3,467,869,882 a change of -4.16%

26/08/2020 FTSE Closed at 6043 points. Change of 0.1%. Total value traded through LSE was: £ 3,618,462,432 a change of 3.2%

25/08/2020 FTSE Closed at 6037 points. Change of -1.1%. Total value traded through LSE was: £ 3,506,401,056 a change of 13.29%

24/08/2020 FTSE Closed at 6104 points. Change of 1.72%. Total value traded through LSE was: £ 3,095,099,740 a change of -18.48%

21/08/2020 FTSE Closed at 6001 points. Change of -0.2%. Total value traded through LSE was: £ 3,796,928,950 a change of -1.91%

20/08/2020 FTSE Closed at 6013 points. Change of -1.6%. Total value traded through LSE was: £ 3,870,716,769 a change of 8.2%

19/08/2020 FTSE Closed at 6111 points. Change of 0.58%. Total value traded through LSE was: £ 3,577,441,706 a change of -6.9%