Some Gloomy Wall St thoughts plus our popular FTSE for Friday

#FTSE #WallSt Just as we’d started to feel the markets were growing immune to politics, the current US President managed to spend Thursday destabilising them with his comments on Ukraine. Until now, we’d felt the Ukraine thing was ‘just’ an excuse to ensure Russia earned higher income from gas sales during winter. Now, we’re less confident and the futures markets appear to share our fears.

At time of writing, Wall St futures are trading around 34,686, having achieved an after hours low of 34,525. What bothers us with this behaviour is fairly simple. The Dow Jones had experienced a pretty solid uptrend since the pandemic low in 2020. That uptrend has now broken pretty conclusively, creating a situation where traffic continuing below 34,525 risks marching down to 33,771 next with secondary, if broken, at 32,624 eventually, hopefully with a proper bounce. Wall St requires exceed 35,285 points (Red on the chart) to make a nonsense of these reversal potentials.

As for the FTSE for Friday, a peculiar calculation demands the UK index exceed 7,634 points to extract itself from a zone where some reversal is probable. This week has proven quite strange, the FTSE ‘wanting’ to go up but clearly being restrained by external events. Friday should prove interesting, especially as the FTSE has (so far) been relatively immune to the stock market drama’s being enacted in Europe and the USA. However, with FTSE Futures presently trading around 7,515 points, a massive 65 points below the level (7,580) at which the market closed Thursday, common sense alone suggests the UK market faces a bit of a hammering on Friday.

We shall not be aghast, if the FTSE is gapped down in the opening second, perhaps to around 7,526 points. Things risk becoming quite fragrant with any movement below such as we can calculate an initial tame sounding ambition at 7,503 points. Below 7,503 risks knocking on the gates of trouble as we can calculate a secondary and hopeful bounce level at 7,421 points.

 

We shall not embrace our inner optimist unless the UK somehow scrambles above 7,588 points. In theory, this should trigger gains to 7,609 with secondary, if exceeded at 7,628 points. We suspect we wasted our time, running these recovery calculations. Some solace can be taken from the detail no immediate calculations are presenting the threat of reversals below Blue (7,370) on the chart. From a FTSE perspective, returning below this longer term downtrend would be “a bad thing”

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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
9:13:48PM BRENT 86.61 86.18 85.475 87.77 88.85 89.43 86.9 ‘cess
9:15:48PM GOLD 1838.18 1835 1833 1844 1844 1848 1835 Shambles
9:19:43PM FTSE 7530 7520 7504 7572 7590 7617 7548 Success
9:22:20PM FRANCE 7162.4 7121 7067 7204 7207 7236 7147
9:24:20PM GERMANY 15754 15726 15643 15831 15922 15985 15808 Shambles
9:28:28PM US500 4473.12 4472 4462 4575 4505 4534 4474 Success
9:30:46PM NASDAQ 14771.47 14771 14726 14911 Absolutely no idea! Will ‘cess
9:33:36PM DOW 34633 34626 34423 34944 issue Live Report at 9.30 AM Success
9:35:44PM JAPAN 27500 27468 27437 27778 27778 27844 27560 Shambles

 

20/01/2022 FTSE Closed at 7585 points. Change of -0.05%. Total value traded through LSE was: £ 6,521,628,941 a change of -25.14%
19/01/2022 FTSE Closed at 7589 points. Change of 0.34%. Total value traded through LSE was: £ 8,711,225,225 a change of 13.49%
18/01/2022 FTSE Closed at 7563 points. Change of -0.63%. Total value traded through LSE was: £ 7,675,745,106 a change of 32.82%
17/01/2022 FTSE Closed at 7611 points. Change of 0.91%. Total value traded through LSE was: £ 5,779,249,970 a change of -10.18%
14/01/2022 FTSE Closed at 7542 points. Change of -0.28%. Total value traded through LSE was: £ 6,434,562,809 a change of 1.01%
13/01/2022 FTSE Closed at 7563 points. Change of 0.16%. Total value traded through LSE was: £ 6,370,299,567 a change of -13.58%
12/01/2022 FTSE Closed at 7551 points. Change of 0.83%. Total value traded through LSE was: £ 7,371,380,208 a change of 17.9%

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:AV. Aviva** **LSE:EZJ EasyJet** **LSE:GENL Genel** **LSE:GLEN Glencore Xstra** **LSE:HL. Hargreaves Lansdown** **LSE:ITM ITM Power** **LSE:NG. National Glib** **LSE:ODX Omega Diags** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:PPC President Energy** **LSE:ZOO Zoo Digital** **

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Updated charts published on : Aviva, EasyJet, Genel, Glencore Xstra, Hargreaves Lansdown, ITM Power, National Glib, Omega Diags, Oxford Instruments, Primary Health, President Energy, Zoo Digital,

LSE:AV. Aviva Close Mid-Price: 440.2 Percentage Change: -0.18% Day High: 445.1 Day Low: 437.1

Further trades ABOVE 445.1 should still improve acceleration toward an ini ……..

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LSE:EZJ EasyJet. Close Mid-Price: 645.8 Percentage Change: + 3.29% Day High: 649.6 Day Low: 618.6

Further movement against EasyJet ABOVE 650 should improve acceleration tow ……..

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LSE:GENL Genel Close Mid-Price: 153.8 Percentage Change: -0.13% Day High: 157.2 Day Low: 152.2

Above 158 still suggests travel coming to an initial 160p. If bettered, o ……..

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LSE:GLEN Glencore Xstra Close Mid-Price: 412.5 Percentage Change: -1.57% Day High: 423.2 Day Low: 408.9

Further movement against Glencore Xstra ABOVE 4242 should improve accelera ……..

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LSE:HL. Hargreaves Lansdown Close Mid-Price: 1334.5 Percentage Change: -0.93% Day High: 1357 Day Low: 1325

This is still not looking great as travel below 1302 now points toward 119 ……..

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LSE:ITM ITM Power. Close Mid-Price: 332.4 Percentage Change: + 6.33% Day High: 334.6 Day Low: 308

Target Met or near enough. The interesting thing about the bounce is the p ……..

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LSE:NG. National Glib. Close Mid-Price: 1092.2 Percentage Change: + 0.29% Day High: 1098.2 Day Low: 1086.2

In the event of National Glib enjoying further trades beyond 1099, the sha ……..

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LSE:ODX Omega Diags Close Mid-Price: 13.25 Percentage Change: -4.50% Day High: 14.12 Day Low: 12.25

Continued weakness against ODX taking the price below 12.25 calculates as ……..

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LSE:OXIG Oxford Instruments. Close Mid-Price: 2225 Percentage Change: + 0.23% Day High: 2250 Day Low: 2205

Weakness on Oxford Instruments below 2205 will invariably lead to 2074 wit ……..

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LSE:PHP Primary Health Close Mid-Price: 144.8 Percentage Change: -0.75% Day High: 146.4 Day Low: 144.6

Target Met. This is not terribly encouraging as below 144 now paints a pic ……..

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LSE:PPC President Energy. Close Mid-Price: 1.77 Percentage Change: + 1.43% Day High: 1.77 Day Low: 1.73

Weakness on President Energy below 1.72 will invariably lead to 1.45 with ……..

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LSE:ZOO Zoo Digital. Close Mid-Price: 136.5 Percentage Change: + 4.60% Day High: 137.5 Day Low: 130.5

All Zoo Digital needs are mid-price trades ABOVE 138 to confirm^ accelerat ……..

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

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