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We suspect the FTSE is performing in a similar fashion to the UK prime minister, essentially avoiding doing anything useful during the holiday season. For the FTSE, there’s the extremely obvious Blue line currently at 7646 points and despite several arguments favouring movement toward it, the index assiduously avoids taking the initiative.

 

This nonsense is creating a situation, where we suspect the FTSE shall spend the rest of the month dodging around between the 7,420 level and 100 points higher at 7,520. If we’re correct, this certainly creates a profitable potential scenario for those brave soles with patience, effectively enabling anyone to take their best shot from half way with a 50 point stop. Obviously, the half way mark is at 7,470 points and by amazing coincidence, the FTSE closed Thursday 11th at 7,469.83 points, pretty much bang on half way.

The immediate situation presents a picture where weakness now below 7,460 is supposed to present reversal to an initial 7,444 with secondary, if broken, at 7,420 points and hopefully a rebound. This, certainly, would be in accordance with our scenario, also presenting a situation where a Long position could be opened at 7,420 with a reasonably tight stop, perhaps around 15 points below. The choice is yours though.

Should there be a successful bounce from the 7,420 level, we’d hope it’d make its way toward an initial 7,450 points with secondary, if bettered, around 7,480 points. Then, suspect it shall settle back to the half way mark before next time, attempting a surge upward.

 

Perhaps it’s the holiday season, permitting such whimsical nonsense but it’s quite strange how recent price movements are tending adhere quite firmly to our calculations, almost confirming our often repeated suspicion of the FTSE being “parked” for August unless any world events start to drive contrary behaviour. This would be a bit of a pity, ‘cos we’re starting to enjoy the wonderful weather and feeling increasingly smug we haven’t scheduled “leave” until October.

Have a good weekend and remember the Factor 50.

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:04:32PM BRENT 98.75 96.26 96 98.04 99.75 99.995 98.6 Success
10:06:26PM GOLD 1790.26 1783 1779 1792 1799 1803 1791
10:08:45PM FTSE 7475 7454 7431 7496 7522 7533.5 7480
10:10:37PM STOX50 3754.3 3738 3726 3752 3777 3785 3757
10:12:44PM GERMANY 13680 13629 13587 13687 13800 13829 13720
10:38:04PM US500 4216.02 4200 4186 4222 4239 4250 4208 ‘cess
10:39:50PM DOW 33383 33285 33173 33409 33662 33701 33475 Success
10:41:43PM NASDAQ 13335 13215 13120 13355 13465 13563 13342 Success
10:43:24PM JAPAN 28140 28040 27966 28153 28248 28408 28078

 

11/08/2022 FTSE Closed at 7465 points. Change of -0.56%. Total value traded through LSE was: £ 5,137,633,275 a change of -1.15%
10/08/2022 FTSE Closed at 7507 points. Change of 0.25%. Total value traded through LSE was: £ 5,197,338,086 a change of -9.09%
9/08/2022 FTSE Closed at 7488 points. Change of 0.08%. Total value traded through LSE was: £ 5,716,882,880 a change of 22.59%
8/08/2022 FTSE Closed at 7482 points. Change of 0.58%. Total value traded through LSE was: £ 4,663,235,289 a change of 8.84%
5/08/2022 FTSE Closed at 7439 points. Change of -0.12%. Total value traded through LSE was: £ 4,284,416,444 a change of -24.22%
4/08/2022 FTSE Closed at 7448 points. Change of 0.04%. Total value traded through LSE was: £ 5,653,918,717 a change of 0.91%
3/08/2022 FTSE Closed at 7445 points. Change of 0.49%. Total value traded through LSE was: £ 5,602,756,478 a change of -3.28%

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:AV. Aviva** **LSE:BP. BP PLC** **LSE:CASP Caspian** **LSE:CCL Carnival** **LSE:EXPN Experian** **LSE:GLEN Glencore Xstra** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IPF International Personal Finance** **LSE:ITM ITM Power** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:SPX Spirax** **

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Updated charts published on : AFC Energy, Aviva, BP PLC, Caspian, Carnival, Experian, Glencore Xstra, Igas Energy, IG Group, ITM Power, Scottish Mortgage Investment Trust, Spirax,

LSE:AFC AFC Energy. Close Mid-Price: 31.14 Percentage Change: + 11.53% Day High: 31.98 Day Low: 27.98

Further movement against AFC Energy ABOVE 31.98 should improve accelerati ……..

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View Previous AFC Energy & Big Picture ***

LSE:AV. Aviva Close Mid-Price: 463.3 Percentage Change: -0.34% Day High: 473.5 Day Low: 453.3

In the event of Aviva enjoying further trades beyond 473.5, the share sho ……..

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View Previous Aviva & Big Picture ***

LSE:BP. BP PLC. Close Mid-Price: 427.55 Percentage Change: + 1.50% Day High: 428.45 Day Low: 417.55

Continued trades against BP. with a mid-price ABOVE 428.45 should improve ……..

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View Previous BP PLC & Big Picture ***

LSE:CASP Caspian Close Mid-Price: 3.05 Percentage Change: -4.69% Day High: 3.2 Day Low: 3.05

Weakness on Caspian below 3.05 will invariably lead to 2.2 with secondary ……..

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LSE:CCL Carnival. Close Mid-Price: 776.4 Percentage Change: + 1.07% Day High: 803.2 Day Low: 764.2

All Carnival needs are mid-price trades ABOVE 803.2 to improve accelerati ……..

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LSE:EXPN Experian Close Mid-Price: 2923 Percentage Change: -0.65% Day High: 2966 Day Low: 2899

Further movement against Experian ABOVE 2966 should improve acceleration ……..

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LSE:GLEN Glencore Xstra. Close Mid-Price: 474.6 Percentage Change: + 0.99% Day High: 479.9 Day Low: 469.7

In the event of Glencore Xstra enjoying further trades beyond 479.9, the ……..

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LSE:IGAS Igas Energy. Close Mid-Price: 65.4 Percentage Change: + 12.37% Day High: 67.8 Day Low: 56.6

Target met. Further movement against Igas Energy ABOVE 67.8 should improv ……..

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LSE:IGG IG Group Close Mid-Price: 834 Percentage Change: -0.30% Day High: 842 Day Low: 829

All IG Group needs are mid-price trades ABOVE 842 to improve acceleration ……..

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LSE:IPF International Personal Finance. Close Mid-Price: 113 Percentage Change: + 8.65% Day High: 114.6 Day Low: 107

Target met. All International Personal Finance needs are mid-price trades ……..

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LSE:ITM ITM Power. Close Mid-Price: 248.4 Percentage Change: + 12.40% Day High: 250.3 Day Low: 220.9

Continued trades against ITM with a mid-price ABOVE 250.3 should improve ……..

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View Previous ITM Power & Big Picture ***

LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 926.6 Percentage Change: + 1.91% Day High: 937.8 Day Low: 910.2

Further movement against Scottish Mortgage Investment Trust ABOVE 937.8 s ……..

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View Previous Scottish Mortgage Investment Trust & Big Picture ***

LSE:SPX Spirax Close Mid-Price: 11655 Percentage Change: -2.88% Day High: 12440 Day Low: 11280

Continued trades against SPX with a mid-price ABOVE 12440 should improve ……..

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View Previous Spirax & Big Picture ***

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

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