August is normally a “pretend” month. Writers pretend to be working, the markets pretend to be trading, share prices pretend to be moving. But in reality, due to the movers and shakers all being at Butlins for the holiday month, very little actually happens, events marginally more interesting than a UK Tory party leadership farce. Personally, it’s easy to suspect the Conservatives, if they employed an enlightened voting system such as eschewed by politicians everywhere, would elect a candidate named; “None Of The Above”…
However, this time around, we’re a little impressed with some recent movements on the FTSE. While optimism based on the last few sessions of a months trading can often be trashed in the first couple of days of a new month, it’s worth considering a few recent market nudges in the right direction.
Firstly, the FTSE has managed break through the downtrend since the start of June. This ticks a box.
Secondly, the FTSE has managed to close above the prior highs of this downtrend. This ticks a happier box.
Thirdly, the visuals don’t entirely stink and the FTSE needs slump below 7,300 points to spoil our optimism.
Fourth, a bit contentious, is our calculation the FTSE now intends head to 7,700 points. By exceeding the downtrend since 2018, in this scenario, the index will also find itself trading above any previous levels of 2022, implying happy days are ahead. This potential ticks yet another major box.
Adding everything together, the indications currently suggest August should prove interesting for the FTSE.
From a nearer term perspective, things still manage to suggest optimism as above 7397 now calculates with the potential of gains to an initial 7426 points. If exceeded, our secondary ambition works out at a pretty amazing 7513 points. Beware the danger (again) of a self serving opening second spike upward at the market open, due to the risk of this being used to slow everything down. Thursday produced such behaviour and unfortunately, the Futures markets ran ahead after hours, topping out at 7418 despite the FTSE ending the day at 7345 points.
Hopefully FTSE futures relaxation will allow the FTSE on Friday to open very near to 7345 points, ideally allowing a day of some quite reasonable upward movement.
If everything intends go wrong (near term), below 7308 points allows weakness to an initial 7283 with secondary, if broken, at 7246 and hopefully a solid rebound.
Have a good weekend and, if you’re off to Butlins and don’t like Formula 1, you may wish to consider reading Project Hail Mary by Andy Weir, the first sci-fi book I’ve read in many years which proved a complete page turner. He also wrote The Martian, made into a film last year but this book is in a different galaxy.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
28/07/2022 FTSE Closed at 7345 points. Change of -0.04%. Total value traded through LSE was: £ 5,958,117,609 a change of -17.71%
27/07/2022 FTSE Closed at 7348 points. Change of 0.57%. Total value traded through LSE was: £ 7,240,157,901 a change of 9.37%
26/07/2022 FTSE Closed at 7306 points. Change of 0%. Total value traded through LSE was: £ 6,619,636,706 a change of 9.19%
25/07/2022 FTSE Closed at 7306 points. Change of 0.41%. Total value traded through LSE was: £ 6,062,435,734 a change of 37.23%
22/07/2022 FTSE Closed at 7276 points. Change of 0.08%. Total value traded through LSE was: £ 4,417,687,866 a change of -18.83%
21/07/2022 FTSE Closed at 7270 points. Change of 0.08%. Total value traded through LSE was: £ 5,442,605,910 a change of -14.07%
20/07/2022 FTSE Closed at 7264 points. Change of -0.44%. Total value traded through LSE was: £ 6,333,828,189 a change of 35.6%
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:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CNA Centrica** **LSE:DGE Diageo** **LSE:GLEN Glencore Xstra** **LSE:LLOY Lloyds Grp.** **LSE:SPX Spirax** **
Updated charts published on : British Telecom, Carclo, Centrica, Diageo, Glencore Xstra, Lloyds Grp., Spirax,
LSE:BT.A British Telecom Close Mid-Price: 161.85 Percentage Change: -8.09% Day High: 174.8 Day Low: 158.65
Target met. Weakness on British Telecom below 158.65 will invariably lead ……..
LSE:CAR Carclo Close Mid-Price: 19.35 Percentage Change: -2.52% Day High: 18.95 Day Low: 18.95
Target met. If Carclo experiences continued weakness below 18.95, it will ……..
LSE:CNA Centrica Close Mid-Price: 88.84 Percentage Change: -2.35% Day High: 93.5 Day Low: 87.6
In the event of Centrica enjoying further trades beyond 93.5, the share s ……..
LSE:DGE Diageo. Close Mid-Price: 3865 Percentage Change: + 2.63% Day High: 3883.5 Day Low: 3756.5
Target met. Further movement against Diageo ABOVE 3883.5 should improve a ……..
LSE:GLEN Glencore Xstra. Close Mid-Price: 449.35 Percentage Change: + 0.53% Day High: 461.45 Day Low: 446.1
In the event of Glencore Xstra enjoying further trades beyond 461.45, the ……..
LSE:LLOY Lloyds Grp. Close Mid-Price: 44.42 Percentage Change: -1.97% Day High: 46.34 Day Low: 44.16
All Lloyds Grp. needs are mid-price trades ABOVE 46.34 to improve acceler ……..
LSE:SPX Spirax. Close Mid-Price: 11600 Percentage Change: + 3.90% Day High: 11580 Day Low: 11205
In the event of Spirax enjoying further trades beyond 11580, the share sh ……..
*** End of “Updated Today” comments on shares.
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