Our FTSE for Friday. And no Crunchie

#FTSE #Gold

Sometimes it feels like there’s a tedious campaign by the great and the good to trash the markets. The current vehicles of choice, interest rates & inflation, are rising while central banks announce some countries may already be in recession. Which, obviously, is a bad thing! It begs the question, just what the heck is going on?

Increasing interest rates obviously provokes a knock-on for inflation. Increasing prices ensure people buy less, along with the poorer sectors of society finding themselves in trouble and requiring support from the appropriate agencies. No-one seems to actually benefit from increased interest rates, yet they are been promoted as a tool to tackle inflation despite the converse being patently true. Perhaps it’s the case central treasuries want to force up prices to the point where people stop buying, forcing companies out of business, creating a shortage of product.

Whatever is going on feels like a dodgy tape player, where the music slows down, then suddenly speeds up until the track catches up with the loose tape. Maybe it’s “just” payback for the effective 18 month holiday many folk enjoyed during the pandemic. Any logic currently being applied has too many holes to make sense, except perhaps one. Rising prices mean rising VAT revenue for the government, a nice little earner generating quick cash flow to the treasury. Successive UK parliaments failed to wind back the “temporary” VAT rise to 20%, inflicted following the financial collapse of 2009, the nation becoming resigned to this stealthy “tax on profit”. Could it be the case interest rates & inflation are being viewed as a good thing, unfortunately by the wrong people; politicians?

 

As for the FTSE, the UK market has finally reached the end of the road, the index value closing below the Red uptrend which dates back to the day of the pandemic drop. We’ve run out of last ditch lows to gear this uptrend against and, as the inset highlights, it’d be daft to pretend any optimism. The immediate situation feels fairly painful.

Currently, weakness below 7149 points calculates with the potential of reversal to 7109 points. If broken, our secondary works out at 7036 points, hopefully with a bounce. If triggered, the tightest stop is at 7194 points, surprisingly tight given the haul of points allegedly on offer. Please remember, we are discussing the FTSE, not after hours futures.

As always, following a confused day of weakness, there’s the immediate threat of surprise recovery! In the case of the FTSE, above 7194 should apparently prove capable of an initial boring 7212 points. If bettered, our secondary works out at 7238 points, a price level where there’s an amazing third stage of movement possible, giving a further 100 point gain. However, we cannot, and should not, ignore the reality of the FTSE closing below the Red uptrend as this makes us suspect the worst.

Have a good weekend.

 

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:28:09PM BRENT 89.58 88.48 87.09 90.12 91.93 93.49 90.28
9:30:21PM GOLD 1671.51 1664 1653 1674 1685 1691 1671
9:32:26PM FTSE 7181.11 7137 7109 7199 7244 7282 7197 ‘cess
9:34:19PM STOX50 3443.3 3407 3388 3431 3495 3510 3464
9:36:12PM GERMANY 12588 12516 12424 12590 12784 12828 12688
9:39:25PM US500 3758 3745 3728 3789 3817 3833 3774 Shambles
9:44:16PM DOW 30110 29954 29802 30326 30521 30653 30137
9:46:47PM NASDAQ 11494 11438 11330 11617 11727 11807 11607 ‘cess
9:48:56PM JAPAN 27035 26901 26718 27141 27399 27477 27177

 

22/09/2022 FTSE Closed at 7159 points. Change of -1.08%. Total value traded through LSE was: £ 5,258,363,393 a change of -10.68%
21/09/2022 FTSE Closed at 7237 points. Change of 0.63%. Total value traded through LSE was: £ 5,887,379,129 a change of 9.29%
20/09/2022 FTSE Closed at 7192 points. Change of -0.61%. Total value traded through LSE was: £ 5,386,737,074 a change of -59.64%
16/09/2022 FTSE Closed at 7236 points. Change of -0.63%. Total value traded through LSE was: £ 13,346,961,271 a change of 170.28%
15/09/2022 FTSE Closed at 7282 points. Change of 0.07%. Total value traded through LSE was: £ 4,938,182,265 a change of -14.27%
14/09/2022 FTSE Closed at 7277 points. Change of -1.46%. Total value traded through LSE was: £ 5,760,077,523 a change of 12.58%
13/09/2022 FTSE Closed at 7385 points. Change of -100%. Total value traded through LSE was: £ 5,116,295,478 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:AFC AFC Energy** **LSE:BT.A British Telecom** **LSE:DARK Darktrace Plc** **LSE:EZJ EasyJet** **LSE:HIK Hikma** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:ITRK Intertek** **LSE:MKS Marks and Spencer** **LSE:OCDO Ocado Plc** **LSE:PHP Primary Health** **LSE:RMG Royal Mail** **LSE:SBRY Sainsbury** **LSE:SPX Spirax** **

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Updated charts published on : AFC Energy, British Telecom, Darktrace Plc, EasyJet, Hikma, British Airways, IG Group, Intertek, Marks and Spencer, Ocado Plc, Primary Health, Royal Mail, Sainsbury, Spirax,

LSE:AFC AFC Energy Close Mid-Price: 18.8 Percentage Change: -12.15% Day High: 20.64 Day Low: 18.6

This is not terribly encouraging as weakness below 18.6 still looks capabl ……..

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View Previous AFC Energy & Big Picture ***

LSE:BT.A British Telecom Close Mid-Price: 134.5 Percentage Change: -0.41% Day High: 135.3 Day Low: 133.5

If British Telecom experiences continued weakness below 133, it will invar ……..

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View Previous British Telecom & Big Picture ***

LSE:DARK Darktrace Plc Close Mid-Price: 313.7 Percentage Change: -11.31% Day High: 355.5 Day Low: 313

Weakness on Darktrace Plc below 313 will invariably lead to 286 next, a fa ……..

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View Previous Darktrace Plc & Big Picture ***

LSE:EZJ EasyJet Close Mid-Price: 322.4 Percentage Change: -5.43% Day High: 333.8 Day Low: 324.2

Target Met. Now below 324 looks capable of 312 next with secondary, if bro ……..

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View Previous EasyJet & Big Picture ***

LSE:HIK Hikma Close Mid-Price: 1199.5 Percentage Change: -0.87% Day High: 1209.5 Day Low: 1179

If Hikma experiences continued weakness below 1179, it will invariably lea ……..

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View Previous Hikma & Big Picture ***

LSE:IAG British Airways Close Mid-Price: 102.3 Percentage Change: -2.39% Day High: 104.28 Day Low: 101.64

Continued weakness against IAG taking the price below 101 calculates as le ……..

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View Previous British Airways & Big Picture ***

LSE:IGG IG Group Close Mid-Price: 757 Percentage Change: -4.30% Day High: 771 Day Low: 753

Continued weakness against IGG taking the price below 753 calculates as le ……..

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View Previous IG Group & Big Picture ***

LSE:ITRK Intertek Close Mid-Price: 3711 Percentage Change: -4.28% Day High: 3837 Day Low: 3714

Target Met. If Intertek experiences continued weakness below 3714, it will ……..

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View Previous Intertek & Big Picture ***

LSE:MKS Marks and Spencer Close Mid-Price: 110.4 Percentage Change: -0.45% Day High: 112.35 Day Low: 109.5

In the event Marks and Spencer experiences weakness below 109 it calculate ……..

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View Previous Marks and Spencer & Big Picture ***

LSE:OCDO Ocado Plc Close Mid-Price: 557.6 Percentage Change: -3.03% Day High: 576.4 Day Low: 549.4

Target Met. Below 549 still points at 543 next. However, should this level ……..

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View Previous Ocado Plc & Big Picture ***

LSE:PHP Primary Health Close Mid-Price: 123.5 Percentage Change: -4.19% Day High: 128.4 Day Low: 123.8

Continued weakness against PHP taking the price below 123.5 calculates as ……..

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View Previous Primary Health & Big Picture ***

LSE:RMG Royal Mail Close Mid-Price: 204.6 Percentage Change: -4.79% Day High: 214.4 Day Low: 202.8

Target Met. Continued weakness against RMG taking the price below 202 calc ……..

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View Previous Royal Mail & Big Picture ***

LSE:SBRY Sainsbury. Close Mid-Price: 195.7 Percentage Change: + 0.46% Day High: 197.45 Day Low: 192.9

In the event Sainsbury experiences weakness below 192.9, it calculates wit ……..

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View Previous Sainsbury & Big Picture ***

LSE:SPX Spirax Close Mid-Price: 9872 Percentage Change: -4.71% Day High: 10360 Day Low: 9892

Weakness on Spirax below 9892 will invariably lead to 9211 with secondary ……..

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View Previous Spirax & Big Picture ***

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

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