#FTSE #Gold
There was a feeling of not hearing the news correctly. When the BBC mentioned the current UK PM has set out a plan for “benefit claimants to get mortgages”, deja vu and a memory of the financial crash of 2009 sprung to mind. Wasn’t the entire shambles caused by mortgages being given to folk who couldn’t afford to pay them?
The UK markets didn’t appear especially impressed anyway, the FTSE failing to even nod above its immediate plans to enjoy a day of misery. So instead, opting to spend the afternoon clearing out the shed felt like a better idea. This cunning plan took just a few minutes to be sidetracked!
Growing from the metal roof of the shed were three weird cocoons, each roughly the side of a golf ball. Returning to the office, a Google search revealed I’d probably had three Queen Wasps building nests, the cocoons destined to grow substantially when the residents matured. What really surprised was how many folk think the process to be fascinating, while the only thing really needed was finding to get rid of them. From the safety of the office, several plans were considered and discarded.
Firstly, Wasps Nest Powder was impossible as the product is designed to work on a “little stinging sod” factory with plenty of traffic.
Secondly, creating a flamethrower with a lit match and hairspray was out of the question. The shed has rather a lot of flammable contents.
Third, attaching a wire brush to a long pole felt like a good idea. I slid the door open and aggressively assaulted the largest cocoon. Alas, it transpired the largest wasp I’ve ever seen was in residence. While the thing didn’t quite grab the brush and attack me, it was considering it. Retreat, sliding the doors shut was the only option. A few minutes later, a used can of Raid Wasp Spray was thrown in the doors, sticky tape holding the spray down while the thing hissed like a frantic smoke grenade. After a reasonable timeframe, the forty point drop on the FTSE between 3 and 4pm, the shed doors were opened and the building left to air itself. By 5pm, sufficient courage was generated to squish the other two cocoons, neither of which disgorged a furious mummy wasp. One facet of wasp research was interesting. Only the female wasp stings and she does, frequently.
The FTSE spent Thursday stinging investors but we’d a sneaking suspicion some recovery can be hoped for on Friday. At least, we had until the US markets threw a wobbly on Thursday evening, the DOW losing 500 points with indecent haste. Currently, it appears above 7510 points should trigger some proper movement for the UK as an impressive lunge toward 7570 calculates as possible. If exceeded, our secondary works out at a less confident looking 7627 points. To be honest, we’re less confident about our secondary, due to the fascination shown by the FTSE at 7600 points in the last week and we shall not be aghast if the index once again decides to close a session around such a level.
Rather more key, for the longer term, is the Blue trend line on the chart. Presently, the FTSE needs close a session above 7667 to suggest an effort to break free from the current hiatus is possible but, to be fair, even a nod above the recent high of 7649 should give early warning for happy days ahead.
Our alternate scenario, if things decide to go pear shaped, comes should the FTSE manage below 7467 points – and NOT with an opening second downward spike. Such movement looks especially troubling, suggesting ongoing weakness to an initial 7409 points with secondary, if broken, at a bottom of 7325 points.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:26:26PM | BRENT | 121.87 | 121.57 | 121.15 | 122.68 | 123.2 | 123.565 | 122.4 | |||
| 9:28:08PM | GOLD | 1848.16 | 1839 | 1833 | 1850 | 1855 | 1859 | 1848 | ‘cess | ||
| 9:33:33PM | FTSE | 7440 | 7418 | 7358 | 7460 | 7494 | 7523 | 7466 | Success | ||
| 10:09:30PM | FRANCE | 6304 | 6299 | 6259 | 6381 | 6375 | 6394 | 6339 | Success | ||
| 10:18:11PM | GERMANY | 14117 | 14074 | 14026 | 14136 | 14144 | 14243 | 14097 | Success | ||
| 10:21:29PM | US500 | 4024.82 | 4015 | 3963 | 4035 | 4035 | 4042 | 4015 | Success | ||
| 10:24:40PM | DOW | 32336 | 32261 | 32170 | 32425 | 32431 | 32460 | 32330 | Success | ||
| 10:27:19PM | NASDAQ | 12294 | 12252 | 12222 | 12410 | 12350 | 12411 | 12295 | Success | ||
| 10:29:34PM | JAPAN | 28025 | 27945 | 27898 | 28025 | 28105 | 28236 | 28013 |
9/06/2022 FTSE Closed at 7476 points. Change of -1.54%. Total value traded through LSE was: £ 6,688,998,845 a change of -1.03%
8/06/2022 FTSE Closed at 7593 points. Change of -0.07%. Total value traded through LSE was: £ 6,758,685,339 a change of -1.74%
7/06/2022 FTSE Closed at 7598 points. Change of -0.13%. Total value traded through LSE was: £ 6,878,313,102 a change of 13.3%
6/06/2022 FTSE Closed at 7608 points. Change of 1.01%. Total value traded through LSE was: £ 6,070,626,814 a change of 3.85%
1/06/2022 FTSE Closed at 7532 points. Change of -0.99%. Total value traded through LSE was: £ 5,845,714,503 a change of -53.49%
31/05/2022 FTSE Closed at 7607 points. Change of -100%. Total value traded through LSE was: £ 12,568,637,540 a change of 0%
30/05/2022 FTSE Closed at 7600 points. Change of 0%. Total value traded through LSE was: £ 5,407,099,048 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:BP. BP PLC** **LSE:DDDD 4D Pharma** **LSE:GKP Gulf Keystone** **LSE:HIK Hikma** **LSE:IGG IG Group** **LSE:IPF International Personal Finance** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **LSE:RMG Royal Mail** **LSE:SBRY Sainsbury** **LSE:SRP Serco** **
********
Updated charts published on : BP PLC, 4D Pharma, Gulf Keystone, Hikma, IG Group, International Personal Finance, ITM Power, Intertek, Royal Mail, Sainsbury, Serco,
LSE:BP. BP PLC Close Mid-Price: 448.3 Percentage Change: -0.69% Day High: 456 Day Low: 449.2
Further movement against BP PLC ABOVE 456 should improve acceleration tow ……..
</p
View Previous BP PLC & Big Picture ***
LSE:DDDD 4D Pharma Close Mid-Price: 28.8 Percentage Change: -5.26% Day High: 30.35 Day Low: 28.4
Weakness on 4D Pharma below 28.4 will invariably lead to 17 with secondar ……..
</p
View Previous 4D Pharma & Big Picture ***
LSE:GKP Gulf Keystone. Close Mid-Price: 310 Percentage Change: + 0.00% Day High: 321 Day Low: 306.5
Target met. All Gulf Keystone needs are mid-price trades ABOVE 321 to imp ……..
</p
View Previous Gulf Keystone & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1611 Percentage Change: -2.16% Day High: 1642 Day Low: 1597.5
In the event Hikma experiences weakness below 1597.5 it calculates with a ……..
</p
View Previous Hikma & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 670 Percentage Change: -5.77% Day High: 714.5 Day Low: 664.5
Target met. In the event IG Group experiences weakness below 664.5 it cal ……..
</p
View Previous IG Group & Big Picture ***
LSE:IPF International Personal Finance Close Mid-Price: 85.5 Percentage Change: -6.04% Day High: 94.7 Day Low: 86.2
Further movement against International Personal Finance ABOVE 94.7 should ……..
</p
View Previous International Personal Finance & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 236.2 Percentage Change: -18.21% Day High: 278.8 Day Low: 236.1
Target met. Weakness on ITM Power below 236.1 will invariably lead to 214 ……..
</p
View Previous ITM Power & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 4448 Percentage Change: -0.94% Day High: 4471 Day Low: 4423
If Intertek experiences continued weakness below 4423, it will invariably ……..
</p
View Previous Intertek & Big Picture ***
LSE:RMG Royal Mail Close Mid-Price: 285.4 Percentage Change: -2.06% Day High: 289.9 Day Low: 281.4
Target met. If Royal Mail experiences continued weakness below 281.4, it ……..
</p
View Previous Royal Mail & Big Picture ***
LSE:SBRY Sainsbury Close Mid-Price: 209.4 Percentage Change: -5.85% Day High: 213.9 Day Low: 207.6
Target met. Weakness on Sainsbury below 207.6 will invariably lead to 193 ……..
</p
View Previous Sainsbury & Big Picture ***
LSE:SRP Serco. Close Mid-Price: 183.8 Percentage Change: + 0.60% Day High: 184.8 Day Low: 181.2
In the event of Serco enjoying further trades beyond 184.8, the share sho ……..
</p
View Previous Serco & Big Picture ***