#Gold #Dow After surviving our pre-Xmas Faux Xmas day… we slide into Thursday secure in the knowledge it’s a half hearted day on the FTSE. Similar to an adult on Christmas Morning, there will be necessary activity in the first few minutes of the session, a period of extended lethargy, then flat panic movement in the last minutes of the morning as the market tries to pretend it was awake all along.
Maybe this year shall be different. We’re all trying to conceal coughs, we’re all pretending the freight backlog shall vanish, and who pays attention to the UK’s daily death rate anyway. The 60 countries banning travel from the UK must simply be courting publicity. It’s Christmas and we only need think happy thoughts and everything negative shall go away. Hopefully, at least until the market starts trading properly again around the middle of January!
This year, more than any in memory, we’ll be glad for the break and time to regroup mentally. Clients are aware we’ve a strong logical reason to expect a severe market correction in 2021, something we intend flesh out in our final article for the year next week.
As for Friday Thursday, for many folk, the final day of trading in 2020, the UK index is almost primed for some positive action, only needing exceed 6,510 points to make travel to an initial 6,542 appear very possible. If exceeded, our secondary calculation comes in at a more alluring 6,599 points. Visually, this will provide an excellent level to park for Xmas, matching the previous highs of December without appearing to do anything dramatic.
If triggered, it looks like 6,449 will prove the tightest “safe” stop loss level.
The alternate scenario must deal with the consequences, if 6,449 points breaks?
Travel below such a level suggests coming weakness to an initial 6,433 with secondary, if broken, a rather more interesting 6397 points. It’s interesting thanks to the calculation matching the bottom achieved on Monday, strongly hinting at a bounce if such a level appears.
For now, thanks for reading our often un-proof-read articles. Enjoy the festive season. Here in our bit of Scotland, the temperature has dropped below freezing, the grass and cars are white with frost, and there’s a glass of dark rum calling my name!
Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | PriorFUTURES |
10:26:17PM | BRENT | 51.22 | 50.06 | 49.88 | 49.3 | 50.74 | 51.62 | 51.8575 | 52.23 | 50.6 | ‘cess |
10:28:02PM | GOLD | 1873.23 | 1855 | 1836.5 | 1813 | 1877 | 1878 | 1881.5 | 1890 | 1866 | |
10:29:58PM | FTSE | 6518.29 | 6425 | 6413.5 | 6377 | 6478 | 6524 | 6545.5 | 6624 | 6463 | Success |
10:31:49PM | FRANCE | 5531 | 5483 | 5478 | 5456 | 5511 | 5544 | 5556.75 | 5594 | 5500 | Success |
10:34:01PM | GERMANY | 13609 | 13467 | 13406.5 | 13334 | 13534 | 13624 | 13661.5 | 13750 | 13531 | ‘cess |
10:35:53PM | US500 | 3693 | 3676 | 3668 | 3654 | 3699 | 3710 | 3725 | 3747 | 3683 | |
10:37:54PM | DOW | 30178 | 29937 | 29865.5 | 29723 | 30085 | 30293 | 30384.5 | 30705 | 30120 | |
10:39:36PM | JAPAN | 26698 | 26394 | 26342 | 26207 | 26544 | 26747 | 26845 | 27059 | 26570 | |
10:44:07PM | NASDAQ | 12667 | 12591 | 12560.5 | 12494 | 12740 | 12745 | 12782 | 12835 | 12651 |
23/12/2020 FTSE Closed at 6495 points. Change of 0.65%. Total value traded through LSE was: £ 4,121,226,334 a change of -11.88%
22/12/2020 FTSE Closed at 6453 points. Change of 19.66%. Total value traded through LSE was: £ 4,676,737,915 a change of -29%
21/12/2020 FTSE Closed at 5393 points. Change of -17.4%. Total value traded through LSE was: £ 6,586,656,478 a change of -30.25%
18/12/2020 FTSE Closed at 6529 points. Change of -0.34%. Total value traded through LSE was: £ 9,442,789,780 a change of 73.6%
17/12/2020 FTSE Closed at 6551 points. Change of -0.29%. Total value traded through LSE was: £ 5,439,357,090 a change of -30.57%
16/12/2020 FTSE Closed at 6570 points. Change of 0.88%. Total value traded through LSE was: £ 7,834,302,099 a change of 42.32%
15/12/2020 FTSE Closed at 6513 points. Change of -0.28%. Total value traded through LSE was: £ 5,504,806,685 a change of -17.61%
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