There are early signs the market(s) are poised for further recovery/growth. Wall St, the Dow Jones, is a case in point, the index managing to clear the immediate downtrend. If we’re honest, reversals through September felt similar to one of these ridiculous “it has to go down, before it goes up” moments.
The funny thing is, the primary US market has been essentially flatlining since May this year, albeit a flatline with a 1,000 point variance. However, traders were not short of complaints regarding the lack of interesting market activity. The big question we need ask is fairly important; Are there sufficient forces in play to take the market above the flatline? Will we see new all time highs?
The immediate situation suggests near term traffic above 34930 points allows recovery to an initial 35078 points. If bettered, our secondary calculates at a healthy sounding 35401 points. While the visuals indicate the potential of some hesitation at our secondary level, we’re not entirely sold on the idea thanks to how well defined the immediate Blue downtrend has been. Instead, we suspect our secondary shall be exceeded, allowing a Big Picture potential of further growth to a new all time high level of 36130, maybe even higher.
For everything to start going horribly wrong for The Dow, the index needs below 33800 points. At present, nothing threatens such reversal.
FTSE for FRIDAY The FTSE looks like some gains are possible but once again, we need point out our sense of time is ridiculous! It was to take almost a week until the market made it successfully to our target, achieving a high of 7216 points on Thursday.
This time around, we remain hopeful for the UK market, the immediate situation suggesting movement above 7216 points should aspire to an initial tame 7230 points. To be fair, we’re inclined to ignore this potential, instead preferring to treat 7230 as a proper trigger level. The tightest stop looks like 7187 points.
Above 7230 currently calculates with the potential of growth to 7262 points. If bettered, our secondary works out at 7330 points. In fact, we can even extrapolate a very possible third level at 7355 points. This third level is liable to become a bit of a problem, impacting the downtrend since 2018.
If things intend go wrong, the FTSE needs weaken below 7157 points as this works out with an initial reversal target of 7123. If broken, our secondary is a bit more traumatic at 7070 points and hopefully a bounce, the movement itself being viewed as an attempt to slow down a market which is heating up.
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|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
14/10/2021 FTSE Closed at 7207 points. Change of 0.92%. Total value traded through LSE was: £ 5,526,155,922 a change of -16.32%
13/10/2021 FTSE Closed at 7141 points. Change of 0.15%. Total value traded through LSE was: £ 6,604,225,806 a change of 15.2%
12/10/2021 FTSE Closed at 7130 points. Change of -0.22%. Total value traded through LSE was: £ 5,733,075,032 a change of 19.23%
11/10/2021 FTSE Closed at 7146 points. Change of 0.72%. Total value traded through LSE was: £ 4,808,445,394 a change of -16.31%
9/10/2021 FTSE Closed at 7095 points. Change of 0%. Total value traded through LSE was: £ 5,745,415,827 a change of -6.11%
8/10/2021 FTSE Closed at 7095 points. Change of 0.24%. Total value traded through LSE was: £ 6,119,595,465 a change of 8.49%
7/10/2021 FTSE Closed at 7078 points. Change of 1.19%. Total value traded through LSE was: £ 5,640,729,699 a change of -17.12%
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 firstname.lastname@example.org. 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:AVCT Avacta** **LSE:ECO ECO (Atlantic) O & G** **LSE:EMG MAN** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:ITM ITM Power** **LSE:RKH Rockhopper** **LSE:ZOL Zoldav** **
Updated charts published on : Asos, Avacta, ECO (Atlantic) O & G, MAN, Gulf Keystone, Glencore Xstra, ITM Power, Rockhopper, Zoldav,
LSE:ASC Asos. Close Mid-Price: 2472 Percentage Change: + 7.48% Day High: 2498 Day Low: 2280
In a small update, below 2266 now suggests coming weakness to 1888 with se ……..
LSE:AVCT Avacta. Close Mid-Price: 122 Percentage Change: + 8.93% Day High: 123.5 Day Low: 112.5
This almost looks ready to be useful as moves above 124 now permit travel ……..
LSE:ECO ECO (Atlantic) O & G Close Mid-Price: 30.25 Percentage Change: -3.97% Day High: 33.5 Day Low: 29.75
In the event of ECO (Atlantic) O & G enjoying further trades beyond 33.5, ……..
LSE:EMG MAN. Close Mid-Price: 225.4 Percentage Change: + 3.30% Day High: 228.4 Day Low: 218.7
Target met. Continued trades against EMG with a mid-price ABOVE 228.4 sho ……..
LSE:GKP Gulf Keystone. Close Mid-Price: 217 Percentage Change: + 2.12% Day High: 221 Day Low: 214.5
In the event of Gulf Keystone enjoying further trades beyond 221, the sha ……..
LSE:GLEN Glencore Xstra. Close Mid-Price: 384.8 Percentage Change: + 3.37% Day High: 386.4 Day Low: 377.45
Target met. Continued trades against GLEN with a mid-price ABOVE 386.4 sh ……..
LSE:ITM ITM Power. Close Mid-Price: 474.8 Percentage Change: + 5.18% Day High: 473.2 Day Low: 452.4
Further movement against ITM Power ABOVE 473.2 should improve acceleratio ……..
LSE:RKH Rockhopper. Close Mid-Price: 6.2 Percentage Change: + 11.31% Day High: 6.5 Day Low: 6
Above 6.5 currently suggests the potential of movement to an initial 6.9p. ……..
LSE:ZOL Zoldav Close Mid-Price: 24.5 Percentage Change: -5.77% Day High: 27 Day Low: 24.5
This is looking terrible as below 24 now signals reversal to 17 next. If b ……..
*** End of “Updated Today” comments on shares.
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