#FTSE #WallSt
After Brexit, there were plenty of horror stories about how London would be devastated at the loss of banking jobs to Europe. Unsurprisingly, this has turned out not to be the case, the European Central Bank currently attempting to order UK banks to fill their pretend operations in Europe. Equally, the volume of derivatives traded in London was supposed to collapse and yet again, financial volumes remain pretty respectable.
A quick calculation reveals a steady climb in values traded through the stock market, up roughly 40% in the years since 2016. It certainly appears rumours of the death of London are turning out to lack substance.
However, despite the hysterical headlines as shown below, the reality for the FTSE is currently less dramatic. None of the writers appear capable of paying attention to the fact the FTSE isn’t even as low as it was just 7 sessions ago. Nor has the market broken through the uptrend since the pandemic low of March 2020. With the FTSE closing Thursday at 7,302 points, the UK market remains comfortably above the Russia inspired low in March, where the market reversed to 6,787 points. We prefer to think of the financial media as being (mostly) respectable but when headline writers appear to form a rabid pack, determined to give the impression of a disaster, it’s difficult to have any sympathy for their collectively failing circulation figures.
The funny thing, those folk who remember the dreadful days of 2008 and early 2009, when reversals felt remorseless and -2% days on the FTSE proved far from unusual, the headlines above fail to make any sense when appreciating this week has witnessed two up days, then two down days for the FTSE. At time of writing, it feels like Friday is scheduled to be a day of some gains, at least in the near term.
Above 7305 points calculates with the potential of movement to an initial 7353 points. If exceeded, our secondary works out at an even more respectable 7438 points. Allegedly, the tightest stop if this movement triggers works out at 7264 points and, to be honest, we’re a little fragile regarding the secondary target. It appears to be almost a free gift, something the FTSE tends be quite parsimonious about bestowing. Unfortunately, such a secondary target makes rather a lot of visual sense.
Our alternate scenario kicks in, should the market discover an excuse to slip below Thursdays low of 7228 points. Initially, we can argue for reversal toward 7180 points where we’d anticipate a short lived bounce. But should 7180 break, our secondary calculates at 7090, a level at which we’d hope for a real rebound.
The market needs break below 7090 points before we shall concede the scary headline writers maybe have a very real and very dangerous point. But at present, we suspect they’re simply trying to sell newspapers.
Massive thanks to the kind folk who discovered a fascinating advert to visit on this page on Thursday. The clicks paid for the increase in Taylors coffee bean prices (not kidding!)
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:52:16PM | BRENT | 109.96 | 104.4 | 103.34 | 107.7 | 110.79 | 112.2 | 108.55 | ‘cess | ||
| 9:54:23PM | GOLD | 1841.97 | 1806 | 1791 | 1826 | 1849 | 1863 | 1826 | Success | ||
| 9:57:22PM | FTSE | 7328.46 | 7224 | 7184 | 7289 | 7393 | 7413 | 7303 | ‘cess | ||
| 9:59:12PM | FRANCE | 6279.4 | 6236 | 6214 | 6262 | 6316 | 6345 | 6270 | Success | ||
| 10:02:29PM | GERMANY | 13921 | 13677 | 13650 | 13777 | 13985 | 14053 | 13873 | |||
| 10:05:06PM | US500 | 3901.94 | 3856 | 3833 | 3923 | 3947 | 3976 | 3897 | Success | ||
| 10:07:04PM | DOW | 31251 | 30984 | 30812 | 31282 | 31573 | 31824 | 31300 | Success | ||
| 10:09:31PM | NASDAQ | 11899 | 11700 | 11622 | 11992 | 12081 | 12096 | 11882 | ‘cess | ||
| 10:11:54PM | JAPAN | 26373 | 26065 | 25975 | 26506 | 26556 | 26639 | 26347 | ‘cess |
19/05/2022 FTSE Closed at 7302 points. Change of -1.83%. Total value traded through LSE was: £ 7,040,483,001 a change of 0.49%
18/05/2022 FTSE Closed at 7438 points. Change of -1.06%. Total value traded through LSE was: £ 7,006,146,182 a change of 17.44%
17/05/2022 FTSE Closed at 7518 points. Change of 0.72%. Total value traded through LSE was: £ 5,965,741,785 a change of -1.9%
16/05/2022 FTSE Closed at 7464 points. Change of 0.62%. Total value traded through LSE was: £ 6,081,329,244 a change of -11.87%
13/05/2022 FTSE Closed at 7418 points. Change of 2.56%. Total value traded through LSE was: £ 6,900,608,037 a change of -14.47%
12/05/2022 FTSE Closed at 7233 points. Change of -1.55%. Total value traded through LSE was: £ 8,068,175,968 a change of -13.29%
11/05/2022 FTSE Closed at 7347 points. Change of 1.44%. Total value traded through LSE was: £ 9,304,334,633 a change of 45.01%
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:AFC AFC Energy** **LSE:AML Aston Martin** **LSE:AVCT Avacta** **LSE:CBX Cellular Goods** **LSE:CEY Centamin** **LSE:DARK Darktrace Plc** **LSE:EXPN Experian** **LSE:IGG IG Group** **LSE:ITRK Intertek** **LSE:JET Just Eat** **LSE:RMG Royal Mail** **LSE:SDY Speedyhire** **LSE:SNN Sanne Plc** **LSE:SPX Spirax** **LSE:TSCO Tesco** **
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Updated charts published on : AFC Energy, Aston Martin, Avacta, Cellular Goods, Centamin, Darktrace Plc, Experian, IG Group, Intertek, Just Eat, Royal Mail, Speedyhire, Sanne Plc, Spirax, Tesco,
LSE:AFC AFC Energy. Close Mid-Price: 25.34 Percentage Change: + 2.59% Day High: 25.5 Day Low: 23.22
Weakness on AFC Energy below 23.22 will invariably lead to 22 with second ……..
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View Previous AFC Energy & Big Picture ***
LSE:AML Aston Martin Close Mid-Price: 678 Percentage Change: -1.97% Day High: 687.4 Day Low: 643.6
In the event Aston Martin experiences weakness below 643.6 it calculates ……..
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View Previous Aston Martin & Big Picture ***
LSE:AVCT Avacta Close Mid-Price: 103 Percentage Change: -5.50% Day High: 109 Day Low: 102
Weakness on Avacta below 102 will invariably lead to 99 with secondary, i ……..
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View Previous Avacta & Big Picture ***
LSE:CBX Cellular Goods Close Mid-Price: 1.56 Percentage Change: -10.86% Day High: 1.75 Day Low: 1.62
Target met. In the event Cellular Goods experiences weakness below 1.62 i ……..
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View Previous Cellular Goods & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 83.06 Percentage Change: + 0.41% Day High: 82.84 Day Low: 78.78
If Centamin experiences continued weakness below 78.78, it will invariabl ……..
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View Previous Centamin & Big Picture ***
LSE:DARK Darktrace Plc. Close Mid-Price: 340 Percentage Change: + 5.20% Day High: 342.5 Day Low: 312.6
Target met. In the event Darktrace Plc experiences weakness below 312.6 i ……..
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View Previous Darktrace Plc & Big Picture ***
LSE:EXPN Experian Close Mid-Price: 2506 Percentage Change: -0.52% Day High: 2516 Day Low: 2436
In the event Experian experiences weakness below 2436 it calculates with ……..
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View Previous Experian & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 702 Percentage Change: -0.85% Day High: 709 Day Low: 689.5
Target met. Continued weakness against IGG taking the price below 689.5 c ……..
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View Previous IG Group & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 4867 Percentage Change: -0.21% Day High: 4857 Day Low: 4748
Weakness on Intertek below 4748 will invariably lead to 4696 with seconda ……..
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View Previous Intertek & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1666.4 Percentage Change: + 4.59% Day High: 1668.4 Day Low: 1560.6
In the event Just Eat experiences weakness below 1415.8 it calculates wit ……..
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View Previous Just Eat & Big Picture ***
LSE:RMG Royal Mail Close Mid-Price: 300 Percentage Change: -12.38% Day High: 332.1 Day Low: 290.2
Target met. Continued weakness against RMG taking the price below 290.2 c ……..
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View Previous Royal Mail & Big Picture ***
LSE:SDY Speedyhire Close Mid-Price: 45.1 Percentage Change: -4.04% Day High: 46.75 Day Low: 45.15
If Speedyhire experiences continued weakness below 45.15, it will invaria ……..
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View Previous Speedyhire & Big Picture ***
LSE:SNN Sanne Plc Close Mid-Price: 893 Percentage Change: -0.33% Day High: 897 Day Low: 888
Weakness on Sanne Plc below 888 will invariably lead to 848 with secondar ……..
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View Previous Sanne Plc & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 10230 Percentage Change: -2.29% Day High: 10395 Day Low: 10045
In the event Spirax experiences weakness below 10045 it calculates with a ……..
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View Previous Spirax & Big Picture ***
LSE:TSCO Tesco Close Mid-Price: 255.1 Percentage Change: -4.13% Day High: 257.2 Day Low: 251.5
If Tesco experiences continued weakness below 251.5, it will invariably l ……..
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View Previous Tesco & Big Picture ***