#FTSE for FRIDAY

#FTSE for FRIDAY  We’ve a frequent problem with ‘Chart Patterns’, not least being their utter unreliability. It’s often the case of something being true for one market proving to be the exact opposite in another. Movements recently with the FTSE & #WallSt are providing a perfect case in point, allowing us to enter ‘teaching mode’ for a welcome change. The two charts below, dealing with the FTSE and Wall St show an interesting movement with each index. Our point, essentially, would be a strong suspicion Wall St would be about to surge upward, if only the US index had produced similar movements to the UK.

When an American index enacts this sequence;

1. Break the trend
2. Follow the trend from below
3. Exceed the level of the original trend break and regains the prior trend.

; we’ve learned to expect surprise future strength. When we apply our US model to the UK index, it translates with the potential of coming growth toward 7,040 points.

Unfortunately, a US model will rarely prove reliable when applied elsewhere, doubtless reflecting differences in thought processes from one side of the Atlantic to the other. In America, perpetual hope which is backed up by action. “It’s broken trend. No worries, it’s going up again and look, it just regained the trend. BUY”

But in Europe, “It’s broken trend. Don’t trust it, the value is increasing but it just proved the trend line was weak. SELL!”

It’s easy to snigger about this sort of nonsense but there’s little doubt the eternal optimism of America is a commodity often only found amongst the gullible in British internet chatrooms for certain AIM shares. If anyone is interested, we rather suspect the movement in the US index is a warning for imminent reversal to around 29,900 points, a level at which we’d hope for a rebound.

 

As for the FTSE for FRIDAY, there are some slight potentials showing as above 6670 points calculates with an initial ambition of 6708 points with secondary, if exceeded, at 6743 points. If triggered, the very tightest stop looks wide at 6615 points.

The alternate scenario allows for weakness below 6608 to drive reversals to an initial 6568 with secondary, when broken, at 6523 points.

 

And on the bright side, it’s now just 21 days until Formula1 kicks off in Bahrain.

FREE FIRST MOVE FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
9:50:03PM	BRENT	66.8	63.95	63.075		65.83	67.59	68.48		64.8	Success
9:53:03PM	GOLD	1698	1690	1674		1740	1722	1733.5		1706	‘cess
9:54:32PM	FTSE	6604.48	6563	6531.5		6604	6670	6683		6612	‘cess
9:56:38PM	FRANCE	5789.2	5768	5744		5796	5804	5816.5		5770	‘cess
9:59:25PM	GERMANY	13967	13947	13885		14008	14098	14139		13998	‘cess
10:12:43PM	US500	3767	3721	3678		3777	3795	3812.5		3745	Success
10:18:02PM	DOW	30943	30740	30439.5		30972	31026	31184		30796	Success
10:21:15PM	NASDAQ	12445	12308	12216		12546	12628	12698		12415	Success
10:24:01PM	JAPAN	28932	28700	28593		28985	29195	29346.5		28995	Success

4/03/2021 FTSE Closed at 6650 points. Change of -0.37%. Total value traded through LSE was: £ 7,078,677,923 a change of 10.48%

3/03/2021 FTSE Closed at 6675 points. Change of 0.94%. Total value traded through LSE was: £ 6,407,091,178 a change of -5.86%

2/03/2021 FTSE Closed at 6613 points. Change of 0.38%. Total value traded through LSE was: £ 6,806,160,931 a change of 10.04%

1/03/2021 FTSE Closed at 6588 points. Change of 1.62%. Total value traded through LSE was: £ 6,185,435,500 a change of -34.59%

26/02/2021 FTSE Closed at 6483 points. Change of -2.53%. Total value traded through LSE was: £ 9,456,681,275 a change of 48.72%

25/02/2021 FTSE Closed at 6651 points. Change of -0.11%. Total value traded through LSE was: £ 6,358,793,501 a change of -9.6%

24/02/2021 FTSE Closed at 6658 points. Change of 0.5%. Total value traded through LSE was: £ 7,033,846,680 a change of -16.27%