#FTSE #Gold
We’re struggling to say anything nice about the week just experienced, a relentless push downward for the FTSE. It has called into question just where the trend may actually be with so few movements making any sense? For us, the big problem came at the start of July, when the UK market broke the Red uptrend, then stopped dead. It almost felt like someone decided, “Nope, no further” such was the force of the bounce at the 7,000 level.
To a lesser degree, we’d a puzzled enacted in front of us at 9.25am on Thursday. We’d let clients know we were anticipating the UK market bottoming around 7,190 points. True to form, at 9.25am, the index hit our target level, flatlining for 5 minutes, then discovered an excuse to fall further, eventually describing a low for the day at 7,131 points. Surprisingly, this strange behaviour was mirrored around the world with other markets also breaking below our target “bottom” level before experiencing recovery. This may prove quite dangerous next week but for now, we’re inclined to take some encouragement from the chances of a near term bounce.
We shall be inclined toward hope, should the FTSE move above 7,190 points as a slight recovery cycle toward 7,215 looks possible. Above such a level, it appears the market is offering a chance to repay all the losses from Thursday with gains in the direction of 7,272 points. If this scenario triggers, the UK index needs below 7,131 to cancel the prospects, thus giving a wide but tolerable stop loss level.
Of course, it’s worth remembering Friday 2nd September is also the US Non Farm Payroll day, numbers which once played havoc with the UK market but nowadays, less so. However, below 7,130 risks entering a reversal cycle down to 7,034 points initially. If broken, our secondary calculates at 6,906 points. We’re very hesitant to speculate on bounce points in this scenario as, if triggered, the FTSE will wake up to discover it’s trading in a zone where the Big Picture bottom works out around 6,400 points.
It’s probably worth remembering US Payroll numbers will invariably be optimistic estimates, usually provoking market gains until reality establishes itself sometime next week.
Have a good weekend, hopefully a better Grand Prix than last weekends proved to be.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:24:32PM | BRENT | 91.86 | 91.7 | 91.21 | 92.4 | 95.1 | 95.59 | 94.27 | ‘cess | ||
| 9:27:10PM | GOLD | 1695 | 1688 | 1785 | 1697 | 1708 | 1711 | 1699 | Success | ||
| 9:41:29PM | FTSE | 7181 | 7131 | 7119 | 7202 | 7215 | 7239 | 7163 | Success | ||
| 9:54:53PM | STOX50 | 3493 | 3444 | 3433 | 3470 | 3500 | 3519 | 3475 | Success | ||
| 9:56:37PM | GERMANY | 12787 | 12600 | 12503 | 12780 | 12821 | 12869 | 12720 | ‘cess | ||
| 9:59:24PM | US500 | 3967 | 3901 | 3871 | 3945 | 3969 | 3993 | 3937 | Success | ||
| 10:01:48PM | DOW | 31660 | 31300 | 31260 | 31470 | 31680 | 31745 | 31487 | Success | ||
| 10:05:39PM | NASDAQ | 12285 | 12005 | 11984 | 12175 | 12291 | 12332 | 12187 | Success | ||
| 10:09:58PM | JAPAN | 27774 | 27665 | 27572 | 27756 | 27809 | 27908 | 27680 | Success |
1/09/2022 FTSE Closed at 7148 points. Change of -1.87%. Total value traded through LSE was: £ 5,042,745,604 a change of -38.48%
31/08/2022 FTSE Closed at 7284 points. Change of -1.05%. Total value traded through LSE was: £ 8,197,472,854 a change of 27.31%
30/08/2022 FTSE Closed at 7361 points. Change of -0.89%. Total value traded through LSE was: £ 6,438,857,207 a change of 48.05%
26/08/2022 FTSE Closed at 7427 points. Change of -0.7%. Total value traded through LSE was: £ 4,349,079,886 a change of 12.01%
25/08/2022 FTSE Closed at 7479 points. Change of 0.11%. Total value traded through LSE was: £ 3,882,636,574 a change of -18.23%
24/08/2022 FTSE Closed at 7471 points. Change of -0.23%. Total value traded through LSE was: £ 4,748,027,124 a change of -4.63%
23/08/2022 FTSE Closed at 7488 points. Change of -100%. Total value traded through LSE was: £ 4,978,434,617 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:ASC Asos** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:GLEN Glencore Xstra** **LSE:HIK Hikma** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **LSE:ITV ITV** **LSE:JET Just Eat** **LSE:OCDO Ocado Plc** **LSE:ODX Omega Diags** **LSE:QFI Quadrise** **LSE:RMG Royal Mail** **LSE:RR. Rolls Royce** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:TW. Taylor Wimpey** **LSE:VOD Vodafone** **
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Updated charts published on : Asos, Barrett Devs, British Telecom, Carclo, Glencore Xstra, Hikma, British Airways, IG Group, ITM Power, Intertek, ITV, Just Eat, Ocado Plc, Omega Diags, Quadrise, Royal Mail, Rolls Royce, Sainsbury, Scancell, Speedyhire, Scottish Mortgage Investment Trust, Taylor Wimpey, Vodafone,
LSE:ASC Asos Close Mid-Price: 663 Percentage Change: -4.67% Day High: 692 Day Low: 655
Target met. Weakness on Asos below 655 will invariably lead to 631 with s ……..
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View Previous Asos & Big Picture ***
LSE:BDEV Barrett Devs Close Mid-Price: 415.2 Percentage Change: -2.83% Day High: 427.5 Day Low: 413.1
Target met. In the event Barrett Devs experiences weakness below 413.1 it ……..
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View Previous Barrett Devs & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 146.05 Percentage Change: -3.09% Day High: 151.2 Day Low: 145.1
In the event British Telecom experiences weakness below 145.1 it calculat ……..
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View Previous British Telecom & Big Picture ***
LSE:CAR Carclo Close Mid-Price: 18.65 Percentage Change: -6.05% Day High: 19.5 Day Low: 18.5
Weakness on Carclo below 18.5 will invariably lead to 17 with secondary ( ……..
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View Previous Carclo & Big Picture ***
LSE:GLEN Glencore Xstra Close Mid-Price: 442 Percentage Change: -6.61% Day High: 452.6 Day Low: 436.6
If Glencore Xstra experiences continued weakness below 436.6, it will inv ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1289.5 Percentage Change: -1.79% Day High: 1315.5 Day Low: 1285
Continued weakness against HIK taking the price below 1285 calculates as ……..
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View Previous Hikma & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 104.56 Percentage Change: -3.38% Day High: 107.68 Day Low: 104.58
If British Airways experiences continued weakness below 104.58, it will ……..
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View Previous British Airways & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 791.5 Percentage Change: -3.30% Day High: 816.5 Day Low: 790.5
Weakness on IG Group below 790.5 will invariably lead to 599 with seconda ……..
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View Previous IG Group & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 179.45 Percentage Change: -9.19% Day High: 195.7 Day Low: 179.5
Target met. Continued weakness against ITM taking the price below 179.5 c ……..
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View Previous ITM Power & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 3873 Percentage Change: -2.17% Day High: 3912 Day Low: 3853
Target met. Continued weakness against ITRK taking the price below 3853 c ……..
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View Previous Intertek & Big Picture ***
LSE:ITV ITV Close Mid-Price: 61.22 Percentage Change: -4.79% Day High: 64.18 Day Low: 61.06
If ITV experiences continued weakness below 61.06, it will invariably lea ……..
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View Previous ITV & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1363.8 Percentage Change: -5.48% Day High: 1415 Day Low: 1353
Weakness on Just Eat below 1353 will invariably lead to 1180 next with se ……..
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View Previous Just Eat & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 684.2 Percentage Change: -5.76% Day High: 721.6 Day Low: 682.6
Continued weakness against OCDO taking the price below 682.6 calculates a ……..
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View Previous Ocado Plc & Big Picture ***
LSE:ODX Omega Diags Close Mid-Price: 2.55 Percentage Change: -7.27% Day High: 2.75 Day Low: 2.5
Target met. In the event Omega Diags experiences weakness below 2.5 it ca ……..
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View Previous Omega Diags & Big Picture ***
LSE:QFI Quadrise Close Mid-Price: 1.23 Percentage Change: -6.82% Day High: 1.25 Day Low: 1.21
Weakness on Quadrise below 1.21 will invariably lead to 1.15 with seconda ……..
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View Previous Quadrise & Big Picture ***
LSE:RMG Royal Mail Close Mid-Price: 253.6 Percentage Change: -7.95% Day High: 275 Day Low: 253.7
Continued weakness against RMG taking the price below 253.7 calculates as ……..
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View Previous Royal Mail & Big Picture ***
LSE:RR. Rolls Royce Close Mid-Price: 71.31 Percentage Change: -7.39% Day High: 75.99 Day Low: 69.57
In the event Rolls Royce experiences weakness below 69.57 it calculates w ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SBRY Sainsbury Close Mid-Price: 200 Percentage Change: -1.67% Day High: 202.7 Day Low: 199.05
If Sainsbury experiences continued weakness below 199.05, it will invaria ……..
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View Previous Sainsbury & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 11.12 Percentage Change: -3.26% Day High: 11.25 Day Low: 11.12
Weakness on Scancell below 11.12 will invariably lead to 9.5p. If broken, ……..
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View Previous Scancell & Big Picture ***
LSE:SDY Speedyhire Close Mid-Price: 38.25 Percentage Change: -6.71% Day High: 40.75 Day Low: 38.8
Target met. Continued weakness against SDY taking the price below 38.8 ca ……..
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View Previous Speedyhire & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust Close Mid-Price: 769.2 Percentage Change: -4.54% Day High: 801 Day Low: 767.6
Weakness on Scottish Mortgage Investment Trust below 767.6 will invariabl ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 105 Percentage Change: -3.05% Day High: 108.2 Day Low: 104.5
Target met. Continued weakness against TW. taking the price below 104.5 c ……..
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View Previous Taylor Wimpey & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 112.18 Percentage Change: -3.03% Day High: 115.32 Day Low: 111.84
In the event Vodafone experiences weakness below 111.84 it calculates wit ……..
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View Previous Vodafone & Big Picture ***