#FTSE #WallSt A visit across to the mainland (and the big city) provided reason for a surprise. Traffic levels appear to be back to normal but, perhaps more importantly, people appear to be finally remembering how to drive again. For a while, during the various Lockdown phases, every trip ensuring a new experience of utter morons on the road, completely out of practice in any form of driving discipline.
The problem wasn’t speeding, quite the converse. Also, difficult manoeuvres like parking or turning often produced classical levels of utter incompetence. But today, whether on the motorways or the dangerous realms of car parks, there was absolutely no drama. It makes us wonder how long it shall be before the FTSE manages to get its act in order and behave like a proper index!
At time of writing, the UK index is around 7124 points, a country mile away from challenging the pre-pandemic highs around 7550 points and in doing so, joining the rest of the civilised world in becoming useful. At present, there appears very little inclination for the market to behave properly and given Thursdays fun and games, we’re becoming a little nervous. The 40 point spike down at the market open, followed by ever decreasing lows, appeared to follow no logic. Perhaps it was simply a spiteful attempt to inhibit the FTSE from actually doing anything positive as the holiday month of August comes toward a close.
The situation now risks being fairly unpleasant, if the FTSE meanders below 7095 points as reversal to an initial 7071 looks very possible. Should this level break, a more serious risk of ongoing reversal to 7003 points calculates as possible. If triggered, the tightest stop level looks like 7130 points, a reasonable number given the risk/reward parameters. Amusingly, should this play out, it will represent the 8th time a FTSE uptrend has broken since November last year. As we implied, this is a market which needs to learn to drive, preferably upward.
Our alternate scenario comes, if the FTSE manages above 7147 points as this should produce movement to a pretty tame 7162 points. If bettered, our secondary works out at 7194 points. The tightest stop looks like 7107 points.
Finally, the Formula 1 season resumes, where the Belgian driver shall doubtless score a “surprise” victory in his home Grand Prix…
Trends and Targets. Past performance is not a reliable indicator of future results.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:53:22PM | BRENT | 70.57 | 69.55 | 68.545 | 71.34 | 71.65 | 72.475 | 69.85 | Shambles | ||
| 9:54:59PM | GOLD | 1792.02 | 1779 | 1775 | 1791 | 1797 | 1800 | 1789 | |||
| 9:57:36PM | FTSE | 7132.66 | 7092 | 7078 | 7135 | 7146 | 7155 | 7116 | Success | ||
| 10:01:11PM | FRANCE | 6649 | 6616 | 6587 | 6673 | 6683 | 6701.5 | 6632 | Success | ||
| 10:03:15PM | GERMANY | 15777 | 15699 | 15622 | 15813 | 15838 | 15879 | 15738 | |||
| 10:04:54PM | US500 | 4474.37 | 4468 | 4463 | 4487 | 4495 | 4498 | 4479 | ‘cess | ||
| 10:08:20PM | DOW | 35256 | 35197 | 35143 | 35340 | 35362 | 35407 | 35267 | ‘cess | ||
| 10:10:09PM | NASDAQ | 15292 | 15269 | 15254 | 15356 | 15372 | 15404 | 15298 | Success | ||
| 10:11:54PM | JAPAN | 27657 | 27588 | 27517 | 27768 | 27812 | 27852 | 27632 |
26/08/2021 FTSE Closed at 7124 points. Change of -0.36%. Total value traded through LSE was: £ 3,698,877,507 a change of -14%
25/08/2021 FTSE Closed at 7150 points. Change of 0.35%. Total value traded through LSE was: £ 4,301,236,714 a change of -11.3%
24/08/2021 FTSE Closed at 7125 points. Change of 0.23%. Total value traded through LSE was: £ 4,849,105,310 a change of 11.85%
23/08/2021 FTSE Closed at 7109 points. Change of 0.31%. Total value traded through LSE was: £ 4,335,174,689 a change of -8.49%
20/08/2021 FTSE Closed at 7087 points. Change of 0.41%. Total value traded through LSE was: £ 4,737,378,456 a change of -4.32%
19/08/2021 FTSE Closed at 7058 points. Change of -1.55%. Total value traded through LSE was: £ 4,951,507,181 a change of -2.94%
18/08/2021 FTSE Closed at 7169 points. Change of -0.17%. Total value traded through LSE was: £ 5,101,308,767 a change of 1.33%
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
Click Epic to jump to share: LSE:CAR Carclo** **LSE:CASP Caspian** **LSE:ITM ITM Power** **LSE:POLY Polymetal** **LSE:RKH Rockhopper** **LSE:SRP Serco** **LSE:STAN Standard Chartered** **LSE:VOD Vodafone** **
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Updated charts published on : Carclo, Caspian, ITM Power, Polymetal, Rockhopper, Serco, Standard Chartered, Vodafone,
LSE:CAR Carclo Close Mid-Price: 40.3 Percentage Change: -4.50% Day High: 41.6 Day Low: 39.1
Above 50 allegedly points at 64 next with secondary, if bettered, working ……..
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View Previous Carclo & Big Picture ***
LSE:CASP Caspian. Close Mid-Price: 3.38 Percentage Change: + 4.17% Day High: 3.45 Day Low: 3.35
Target met. All Caspian needs are mid-price trades ABOVE 3.45 to improve ……..
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View Previous Caspian & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 493 Percentage Change: -0.12% Day High: 503 Day Low: 488.2
Further movement against ITM Power ABOVE 503 should improve acceleration ……..
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View Previous ITM Power & Big Picture ***
LSE:POLY Polymetal Close Mid-Price: 1468.5 Percentage Change: -3.61% Day High: 1525 Day Low: 1459
If Polymetal experiences continued weakness below 1459, it will invariabl ……..
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View Previous Polymetal & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 8.82 Percentage Change: + 1.26% Day High: 9.17 Day Low: 8.5
Below 8.5 remains dangerous, pointing at 6.6 with secondary, if broken, do ……..
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View Previous Rockhopper & Big Picture ***
LSE:SRP Serco Close Mid-Price: 132.4 Percentage Change: -1.19% Day High: 137 Day Low: 131.2
Target met. Weakness on Serco below 131.2 will invariably lead to 129 wit ……..
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View Previous Serco & Big Picture ***
LSE:STAN Standard Chartered Close Mid-Price: 459.1 Percentage Change: -0.61% Day High: 462.6 Day Low: 456.1
The lack of any recovery attempts is a worry. The price now needs above 47 ……..
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View Previous Standard Chartered & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 122.5 Percentage Change: -0.39% Day High: 123.38 Day Low: 122
Some useful recovery appears possible near term as movement above 124 shou ……..
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View Previous Vodafone & Big Picture ***