Our popular FTSE for Friday

#FTSE #Gold

We often advocate the benefits of stepping back and taking a look at the big picture. Tonight’s step back was somewhat enforced. Out of nowhere, a massive spider wandered out from beneath a monitor, pausing on Russia & Alaska on the laminated world map which makes my glass top desk more civilised. Without thinking, I upended an empty glass, trapping the prehistoric beastie while it bridged the Bering Sea, doubtless pacing angrily.

Then I stepped back, probably not as far as my wife would (she’d still be running, heading to France!). The accuracy of the trap was a real surprise, the insect slowly patrolling the edge of the glass and looking for an escape route. Generally, when trapping a spider, it will lose a leg in a frantic process to flee. But this time, I’d a completely intact arachnid glaring at me while I debating taking a photograph or not. Eventually, laziness voted against a Kodak moment, grabbing a camera would mean I’d also to tidy my desk and to my knowledge, hell has not yet frozen over. I stood back, building sufficient courage to slide thin card under the glass and remove the spider to the garden.

Above the spider, the #3 monitor was showing a chart of the FTSE which dated back to 2018. There’s a potential downtrend I’ve been ignoring but now, there’s a vague chance of it coming into play. At present, the FTSE needs exceed 7,380 points to surpass this trend line. Despite assigning the FTSE level, pre-pandemic drop, of 7550 as the point above which things may speed up substantially, we’re inclined to go with the visuals and hope 7,380 shall provide a reasonable trigger level for fast future acceleration.

In fact, we can even tighten down on that number, thanks to movements since the pandemic low of March last year. From a Big Picture perspective, above 7225 points is supposed to bring a visit to 7289 points. Should the FTSE somehow manage to exceed 7289 points, our Big Picture secondary comes into play at 8093 points. In other words, we’re neither comfortable suggesting the pre-pandemic high as a trigger, nor a break above the Blue downtrend. Instead, we should be looking for any immediate potential on the stock market to attain 7289 points. Given the FTSE is trading around 7160 at time of writing, it’s surely not a massive leap to watch for.

Hey, chart goes here

Trends and Targets. Past performance is not a reliable indicator of future results.

 

Near term (and remember the above), the FTSE allegedly needs trade above 7184 points to trigger near term movement to 7226 points. If bettered, our secondary target calculates at 7302 points, an ambition we do not anticipate happening in the same day, given the glacial pace of the markets at present. However, this secondary is liable to prove quite a big deal thanks to the target infringing in “Big Picture” territory, hopefully providing a successful pointer to the future.

After all, hasn’t the UK’s Boris managed to fix Brexit, Covid-19, and everything else?

Our alternate scenario triggers, if the FTSE manages below 7128 points as reversal to an initial 7111 looks possible. If broken, our secondary calculates at 7075 points and hopefully a proper bounce. For now, we remain optimistic.

Hey, chart goes here

Trends and Targets. Past performance is not a reliable indicator of future results.

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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
10:15:32PM BRENT 72.7 71.15 70.895 72 73.4 73.8775 71.72 ‘cess
10:28:27PM GOLD 1809.68 1804 1802 1811 1814 1818 1808 ‘cess
10:31:16PM FTSE 7152 7139 7120.5 7161 7172 7178 7139
10:33:25PM FRANCE 6753.2 6727 6696 6768 6777 6795.5 6743
10:37:06PM GERMANY 15822 15762 15713.5 15852 15877 15893 15793
10:39:54PM US500 4539 4517 4511 4534 4546 4553 4522 ‘cess
10:43:23PM DOW 35448 35318 35277 35389 35480 35545 35350
10:53:52PM NASDAQ 15601.5 15552 15518 15607 15680 15708 15613
10:55:38PM JAPAN 28634 28400 28312 28556 28673 28731.5 28519 ‘cess
2/09/2021 FTSE Closed at 7163 points. Change of 0.2%. Total value traded through LSE was: £ 4,567,320,494 a change of -8.51%
1/09/2021 FTSE Closed at 7149 points. Change of 0.42%. Total value traded through LSE was: £ 4,992,272,040 a change of -31.13%
31/08/2021 FTSE Closed at 7119 points. Change of -0.41%. Total value traded through LSE was: £ 7,249,282,364 a change of 72.14%
27/08/2021 FTSE Closed at 7148 points. Change of 0.34%. Total value traded through LSE was: £ 4,211,324,881 a change of 13.85%
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 -100%. Total value traded through LSE was: £ 4,849,105,310 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

Click Epic to jump to share: LSE:ASC Asos** **LSE:BT.A British Telecom** **LSE:CEY Centamin** **LSE:EXPN Experian** **LSE:GKP Gulf Keystone** **LSE:ITM ITM Power** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:RBD Reabold Resources PLC** **LSE:SCLP Scancell** **LSE:SPX Spirax** **

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Updated charts published on : Asos, British Telecom, Centamin, Experian, Gulf Keystone, ITM Power, Marks and Spencer, National Glib, Reabold Resources PLC, Scancell, Spirax,

LSE:ASC Asos Close Mid-Price: 3700 Percentage Change: -2.63% Day High: 3834 Day Low: 3706

Continued weakness against ASC taking the price below 3706 calculates as ……..

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View Previous Asos & Big Picture ***

LSE:BT.A British Telecom Close Mid-Price: 162.15 Percentage Change: -3.85% Day High: 168.1 Day Low: 161.55

In the event British Telecom experiences weakness below 161.55 it calcula ……..

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View Previous British Telecom & Big Picture ***

LSE:CEY Centamin Close Mid-Price: 95.1 Percentage Change: -5.14% Day High: 98.26 Day Low: 95.16

If Centamin experiences continued weakness below 95.16, it will invariabl ……..

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View Previous Centamin & Big Picture ***

LSE:EXPN Experian. Close Mid-Price: 3252 Percentage Change: + 0.37% Day High: 3271 Day Low: 3234

Further movement against Experian ABOVE 3271 should improve acceleration ……..

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View Previous Experian & Big Picture ***

LSE:GKP Gulf Keystone. Close Mid-Price: 176.8 Percentage Change: + 13.92% Day High: 182 Day Low: 162

Finally, this has gotten a little bit interesting. Moves continuing above ……..

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View Previous Gulf Keystone & Big Picture ***

LSE:ITM ITM Power Close Mid-Price: 494 Percentage Change: -1.20% Day High: 508 Day Low: 492.2

All ITM Power needs are mid-price trades ABOVE 508 to improve acceleratio ……..

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View Previous ITM Power & Big Picture ***

LSE:MKS Marks and Spencer Close Mid-Price: 182.8 Percentage Change: -0.92% Day High: 186.75 Day Low: 182.9

Target met. Continued trades against MKS with a mid-price ABOVE 186.75 sh ……..

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View Previous Marks and Spencer & Big Picture ***

LSE:NG. National Glib Close Mid-Price: 944 Percentage Change: -0.24% Day High: 948.9 Day Low: 941.3

All National Glib needs are mid-price trades ABOVE 983, the share should ……..

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LSE:RBD Reabold Resources PLC Close Mid-Price: 0.26 Percentage Change: -1.92% Day High: 0.26 Day Low: 0.22

Target met. If Reabold Resources PLC experiences continued weakness below ……..

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View Previous Reabold Resources PLC & Big Picture ***

LSE:SCLP Scancell Close Mid-Price: 22 Percentage Change: -3.30% Day High: 22.75 Day Low: 22

Presumably this is awaiting some news as visually, the price should be goi ……..

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View Previous Scancell & Big Picture ***

LSE:SPX Spirax. Close Mid-Price: 16595 Percentage Change: + 1.84% Day High: 16645 Day Low: 16225

Target met. Continued trades against SPX with a mid-price ABOVE 16645 sho ……..

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View Previous Spirax & Big Picture ***

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

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