Our popular FTSE for FRIDAY

#SP500 #FreeGoldFutures To generate extra income, we’ve adverts on the front page of our website in the vague hope someone is kind enough to click on them. Needless to say, there is a definite bias in favour of stock market trading commercials. Something quite odd occurred, when we review the last 30 days. The usual countries are at the top for the (small) revenue stream (UK, Guernsey, US, and Australia) but out of nowhere, Myanmar (Burma) appears on the list. Even in the middle of a rather nasty revolution, folk still take the time to read our stuff!

Here in the UK, the FTSE looks like it’s at the start of its own little revolution. Don’t get us wrong, the UK market remains revolting but some hope is becoming evident as the index only needs gain another 8% to challenge the level of the pre-Covid19 highs, around 7,500 points. If we opt to use France and the CAC40 as a model, when this index decided to confirm it was heading north, it messed around for about 10 sessions with a very tight trading range. Suddenly, it developed some faith in itself and made the required lunge toward the pre-Covid level in just 7 sessions.

If this French model proves correct, we should doubtless anticipate the FTSE messing around for the next few weeks, the market oscillating between the 6,800 level and below the 7,000 mark until such time an excuse is discovered to break free. There’s a fairly large “however”, thanks to the UK being one of the last markets to challenge pre-pandemic highs and as a result, the FTSE may opt to behave like a duckling realising it has dithered too far from its flock, moving like the clappers to suddenly catch up. We can certainly hope but there is something else worthy of consideration.

Since the Pandemic drop in March 2020, we’ve become considerably less reliant on downtrends and uptrends. Once upon a time, these indicators proved fairly reliable when gauging market direction but now, we’re forced to pay even more attention to our software calculations, thanks to a break of a trend no longer being a safe indicator of what’s coming. Of course, the media are spoiled for choice when attempting to pick stories from the tree of misery and we suspect the next four weeks shall provide a further excuse for terrors. In addition to Covid, Brexit, Northern Ireland, the added spectre of Scottish independence looks certain rear its head, due to Mr Salmond opting to contest Scottish elections at the start of May. His new “Alba” (Gaelic for Scotland) Party challenges the existing SNP in quite a clever way, potentially making Mr Salmonds independence agenda a priority while making Nicola Sturgeons “woke” agenda a bit of a joke. Following his acquittal in court, even the Scottish media now concede it was curious how the accusers came from Sturgeons inner circle, despite police efforts in interviewing nearly 900 women.

Frankly, we doubt ‘fear driven reversals’ shall prove to be the case as London has tended ignore the rest of the world fairly conclusively since March 2020. Maybe it’s a Brexit thing but we’re hesitant to think the FTSE shall suddenly opt to become logical! There is one interesting number at 7,160 points. Should London exceed such a point, strong upward movement becomes almost impossible to avoid due to the Big Picture currently painting a long term target around the 8,000 point level. Certainly, as someone who received their 2nd Covid-19 vaccine on Thursday, the attraction of normality in the future has already provoked a distinct change of mood. (The immediate side effects could best be described as a mild hangover, if anyone is interested.)

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FTSE for FRIDAY

As for Friday and the FTSE,  above 6945 looks capable of movement to an initial tame 6960 points. If exceeded, our secondary calculates at 7003 points but amazingly, we can concede the longer term ruling attraction is allegedly at 7,113 points. This is rather close to the important trigger level mentioned in the previous paragraph. Importantly, we do not anticipate such movement occurring within a single day – or even a week – given the pace of travel recently. We should also mention some volatility is expected, when (if) the 7,100 level makes an appearance.

 

Our alternate scenario for the FTSE feels less comfortable, indicating the market requires break below 6870 to justify concerns. At present, this calculates with the potential of reversal to an initial 6,840 points with secondary, if broken, at 6,790 points. A word of warning is “caution”. Now the UK market is attempting recovery, it is very possible reversals shall underperform and fail to meet drop targets.

Have a good weekend, hopefully above freezing and without snow and rain. Here in Scotland, the term ‘4 Seasons in One Day’ has mutated into ‘4 Seasons in One Dog Walk’.

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FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:28:05PM BRENT 63.17 62.2 61.655 62.94 63.3 63.655
10:30:35PM GOLD 1755.93 1738 1732 1751 1759 1769.75 1741 Success
10:33:20PM FTSE 6965.28 6886 6871.5 6928 6966 6977 6888 ‘cess
10:40:01PM FRANCE 6162.4 6145 6139.5 6165 6168 6174 6145 ‘cess
10:49:55PM GERMANY 15218.87 15145 15129.5 15225 15255 15266.5 15178
10:51:26PM US500 4106.32 4080 4071.5 4095 4106 4111.5 4086 Success
10:53:18PM DOW 33566 33335 33250.5 33437 33575 33630.5 33425 Sorry
10:55:09PM NASDAQ 13796 13635 13561.5 13722 13802 13828.5 13700 Success
10:56:36PM JAPAN 29761 29507 29421.5 29639 29771 29853.5 29621

 

 

8/04/2021 FTSE Closed at 6942 points. Change of 0.83%. Total value traded through LSE was: £ 5,997,557,402 a change of 4.89%
7/04/2021 FTSE Closed at 6885 points. Change of 0.91%. Total value traded through LSE was: £ 5,718,153,456 a change of -8.18%
6/04/2021 FTSE Closed at 6823 points. Change of 1.28%. Total value traded through LSE was: £ 6,227,431,623 a change of 25.77%
1/04/2021 FTSE Closed at 6737 points. Change of 0.36%. Total value traded through LSE was: £ 4,951,625,470 a change of -27.29%
31/03/2021 FTSE Closed at 6713 points. Change of -0.87%. Total value traded through LSE was: £ 6,810,341,283 a change of 35.19%
30/03/2021 FTSE Closed at 6772 points. Change of -100%. Total value traded through LSE was: £ 5,037,784,451 a change of 0%
29/03/2021 FTSE Closed at 6736 points. Change of 0%. Total value traded through LSE was: £ 5,069,344,780 a change of 0%

SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.

Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION

Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.

UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.

We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…

Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares

The Arrow icons refer to expected Big Picture direction. No Arrow, No clue!

Click Epic to jump to share: LSE:CAR Carclo** **LSE:CEY Centamin** **LSE:DGE Diageo** **LSE:EXPN Experian** **LSE:HUR Hurrican Energy** **LSE:IGG IG Group** **LSE:IPF International Personal Finance** **LSE:ITRK Intertek** **LSE:MRW Morrisons** **LSE:NG. National Glug** **LSE:OXIG Oxford Instruments** **LSE:SDY Speedyhire** **LSE:SPX Spirax** **

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Updated charts published on : Carclo, Centamin, Diageo, Experian, Hurrican Energy, IG Group, International Personal Finance, Intertek, Morrisons, National Glug, Oxford Instruments, Speedyhire, Spirax,

LSE:CAR Carclo Close Mid-Price: 35.2 Percentage Change: -2.22% Day High: 39.2 Day Low: 35.4

Target met. Continued trades against CAR with a mid-price ABOVE 39.2 shou ……..

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LSE:CEYLSE:CEY Centamin. Close Mid-Price: 110.05 Percentage Change: + 2.42% Day High: 110 Day Low: 107.2

Further movement against Centamin ABOVE 110 should improve acceleration t ……..

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LSE:DGELSE:DGE Diageo. Close Mid-Price: 3187 Percentage Change: + 3.12% Day High: 3188.5 Day Low: 3082.5

All Diageo needs are mid-price trades ABOVE 3188.5 to improve acceleratio ……..

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LSE:EXPNLSE:EXPN Experian. Close Mid-Price: 2647 Percentage Change: + 4.38% Day High: 2650 Day Low: 2541

Target met. Continued trades against EXPN with a mid-price ABOVE 2650 sho ……..

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LSE:HUR Hurrican Energy Close Mid-Price: 2.62 Percentage Change: -2.96% Day High: 2.84 Day Low: 2.51

If Hurrican Energy experiences continued weakness below 2.51, it will inv ……..

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LSE:IGGLSE:IGG IG Group. Close Mid-Price: 931.5 Percentage Change: + 0.70% Day High: 936.5 Day Low: 925

All IG Group needs are mid-price trades ABOVE 936.5 to improve accelerati ……..

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LSE:IPFLSE:IPF International Personal Finance. Close Mid-Price: 110 Percentage Change: + 4.76% Day High: 111 Day Low: 107.6

All International Personal Finance needs are mid-price trades ABOVE 111 t ……..

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LSE:ITRKLSE:ITRK Intertek. Close Mid-Price: 6026 Percentage Change: + 3.08% Day High: 6022 Day Low: 5862

Continued trades against ITRK with a mid-price ABOVE 6022 should improve ……..

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LSE:MRWLSE:MRW Morrisons. Close Mid-Price: 184.3 Percentage Change: + 0.22% Day High: 185.9 Day Low: 183.3

Target met. Continued trades against MRW with a mid-price ABOVE 185.9 sho ……..

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LSE:NG.LSE:NG. National Glug. Close Mid-Price: 903.5 Percentage Change: + 1.75% Day High: 907.3 Day Low: 887.7

Target met. Further movement against National Glug ABOVE 907.3 should imp ……..

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LSE:OXIGLSE:OXIG Oxford Instruments. Close Mid-Price: 2105 Percentage Change: + 2.43% Day High: 2145 Day Low: 2060

All Oxford Instruments needs are mid-price trades ABOVE 2145 to improve a ……..

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LSE:SDYLSE:SDY Speedyhire. Close Mid-Price: 71.7 Percentage Change: + 4.82% Day High: 72 Day Low: 69.4

Continued trades against SDY with a mid-price ABOVE 72 should improve the ……..

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LSE:SPXLSE:SPX Spirax. Close Mid-Price: 11950 Percentage Change: + 2.44% Day High: 12010 Day Low: 11755

In the event of Spirax enjoying further trades beyond 12010, the share sh ……..

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*** End of “Updated Today” comments on shares.

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