#FTSE #Gold Every time it feels like the Covid-19 days are easing, something new comes along and bites hard. Today, a routine visit to the hospital went pretty badly wrong, thanks to a bad head cold. As someone already with a compromised immune system, considerable effort has been made this year to remain “clean” but at the hospital reception desk, everyone became quite animated when I admitted I’d coughed a few times.
Suddenly in an isolation room, a nurse attached plumbing pipework to my arm to take bloods. This device, known as a cannula, always provokes a sinking feeling as it’s clear more than one tube of blood is intended in the hours ahead. In fact, it’s always a surprise old Vampire movies didn’t feature this gadget as it provides easy, on demand, blood. The hospital staff didn’t mess around with the potential risk presented, refusing to relax until results came back from the lab, my chest stethoscoped, and a chest X-ray just for good measure. My explanation of the current chemotherapy regime tending to exaggerate everything was certainly heeded but ignored, the nurses preferring a sensible ‘better safe than sorry’ approach.
Unsurprisingly, this is all rather pertinent to the FTSE! Nerves remain present in the world.
The first 9 sessions of this month proved remarkably positive with only Thursday 12th showing some (very slight) hesitation. But it’s easy to fear things suddenly going horribly wrong, should the pandemic come around to bite again. An worrying feature remains Pfizer share price, starting this week with some extremely strong movements. Unfortunately, aside from the opening movement on Monday, the share price has declined daily, now looking like it intends to bottom at 35 dollars. Somehow or other, we’d hoped a company capable of issuing “We’ve Saved The World” news would perform with greater aplomb than displayed?
FTSE for FRIDAY. We’re inclined to take this lack of lustre as a warning, perhaps the FTSE itself risks losing some of its recent shine. But before we dive into a bucket of misery, there’s an important detail worthy of consideration. The FTSE requires to slip below 5890 points to justify “headless chicken” mode. At present, nothing calculates with this risk.
Near term, we shall be mildly concerned if the UK market meanders below 6261 points as this calculates with a reversal potential of 6216 points initially. If broken, our secondary ‘longer term’ number works out at 6071 points and hopefully a bounce. Unfortunately, if this scenario triggers, the tightest stop level is quite absurd at 6350 points.
More likely, if feels like movement anytime soon above 6404 points should provoke FTSE growth toward 6506 points initially with secondary, if exceeded, calculating at 6560 points. Visually we’d anticipate some hesitation around the 6500 level.
Have a good weekend and remember, you can cover a discrete cough with a really loud fart. How the tables have turned on society…
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%
11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%
10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%
9/11/2020 FTSE Closed at 6186 points. Change of 4.67%. Total value traded through LSE was: £ 10,308,149,323 a change of 68%
6/11/2020 FTSE Closed at 5910 points. Change of 0.07%. Total value traded through LSE was: £ 6,135,966,574 a change of 1.03%
5/11/2020 FTSE Closed at 5906 points. Change of 0.39%. Total value traded through LSE was: £ 6,073,393,491 a change of 24.88%
4/11/2020 FTSE Closed at 5883 points. Change of 1.68%. Total value traded through LSE was: £ 4,863,439,336 a change of 7.3%
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