Our famous FTSE for Friday FTSE:UKX

#FTSE #Gold

This week has been utterly banana’s across the markets, not just the FTSE, lots of rises which proved fake and short lived, some falls which appear uncertain and again, short lived. In an effort to throw some light on potential market directions, we took a look at Thursdays closing prices across a range of index’. The results proved as illuminating as a worn out toothbrush.

 

Index Thursday Close Thursday Low Previous Low Conclusion Change %
S&P 500 3645 3610 3623 Lower Low -0.36
Stoxx 50 3273 3249 3260 Lower Low -0.34
UK AIM 798 798 799 Lower Low -0.13
France 5676 5628 5653 Lower Low -0.44
Wall St 29237 28997 28953 Higher Low 0.15
Nasdaq 11169 11038 11167 Lower Low -1.17
Germany 11957 11866 11862 Higher Low 0.03
UK FTSE 6864 6829 6836 Lower Low -0.10

As can be seen in the table above, where markets closed Thursday with “Lower Lows”, the resultant percentage wasn’t entirely scary. Equally, on the two index where the market closed with High Lows, the percentage improvement didn’t exactly set the heather on fire. About the best we dare conclude from the above is fairly obvious, 6 out of 8 markets achieved Lower Lows with the result we should really suspect some continuance of grotty market conditions. The strange thing is, we’ve been suspecting the UK market shall bottom around 6750 for some time and the index is within a nod of achieving such a goal. To be honest, this suspected “bottom” is now being adjusted upward to around 6783 points, thanks to the utterly insane market swings experienced in the last couple of sessions. But making matters worse, these insane swings also introduce a Plus or Minus 20 points against this potential bottom!

There’s another question we’d like to skip neatly past but, what happens if our original 6750 level breaks? It feels like the FTSE shall continue to enjoy inflicting misery on traders as we expect a real bottom to make itself known at 6500 points. It’s perhaps worth remembering, on a daily basis we scan many shares and this week has seen a truly excessive number of UK stocks triggering downward movements.

 

From a near term perspective, the FTSE apparently requires to exceed 6917 points to trigger the potential of surprise recovery to an initial 6941 points. If bettered, our secondary calculation comes in at a more encouraging 7013 points.

The converse picture is less happy as below 6829 works out with reversal potentials to an initial 6770 with secondary, if broken, at 6718, taking the index into a region where a bottom around 6500 starts to look extremely probable.

To eradicate all this misery, the UK index needs a miracle above 7179 points, something which currently looks quite impossible.

On the bright side, it’s the Singapore Grand Prix this weekend and we’d like to thank one of our clients for sparing an invitation to visit and watch the race from his shack! <joking>

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
9:22:49PM BRENT 87.53 86.21 85.66 88.38 88.78 89.5975 86.7 ‘cess
9:24:24PM GOLD 1660.62 1641 1634 1651 1665 1668 1655 ‘cess
9:30:20PM FTSE 6883.81 6842 6818 6872 6922 6935 6860 ‘cess
9:32:32PM STOX50 3295.2 3246 3227 3279 3305 3311 3275 Success
9:34:58PM GERMANY 12002 11865 11769 12025 12045 12102 11950 Success
9:37:37PM US500 3642 3607 3596 3649 3697 3724 3658
9:40:01PM DOW 29235 28971 28812 29384 29712 29863 29451
9:42:36PM NASDAQ 11162 11024 10920 11209 11209 11271 11094 Success
9:45:33PM JAPAN 26156 26017 25875 26122 26235 26281 26124
29/09/2022 FTSE Closed at 6881 points. Change of -1.77%. Total value traded through LSE was: £ 7,098,757,750 a change of -12.95%
28/09/2022 FTSE Closed at 7005 points. Change of 0.3%. Total value traded through LSE was: £ 8,154,391,132 a change of 17.78%
27/09/2022 FTSE Closed at 6984 points. Change of -0.51%. Total value traded through LSE was: £ 6,923,595,633 a change of 5.34%
26/09/2022 FTSE Closed at 7020 points. Change of 0.03%. Total value traded through LSE was: £ 6,572,681,049 a change of 1.53%
23/09/2022 FTSE Closed at 7018 points. Change of -1.97%. Total value traded through LSE was: £ 6,473,438,666 a change of 23.11%
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 -100%. Total value traded through LSE was: £ 5,887,379,129 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:AGM Applied Graphene** **LSE:AML Aston Martin** **LSE:BARC Barclays** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CNA Centrica** **LSE:CPI Capita** **LSE:DARK Darktrace Plc** **LSE:EMG MAN** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:ITRK Intertek** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:OCDO Ocado Plc** **LSE:ODX Omega Diags** **LSE:OXIG Oxford Instruments** **LSE:RBD Reabold Resources PLC** **LSE:SBRY Sainsbury** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **LSE:VOD Vodafone** **

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Updated charts published on : AFC Energy, Applied Graphene, Aston Martin, Barclays, Barrett Devs, British Telecom, Centrica, Capita, Darktrace Plc, MAN, Firstgroup, Foxtons, HSBC, British Airways, Igas Energy, IG Group, Intertek, ITV, Lloyds Grp., Marks and Spencer, Ocado Plc, Omega Diags, Oxford Instruments, Reabold Resources PLC, Sainsbury, Scottish Mortgage Investment Trust, Tesco, Taylor Wimpey, Vodafone,

LSE:AFC AFC Energy Close Mid-Price: 17.76 Percentage Change: -3.84% Day High: 18.34 Day Low: 17.16

Weakness on AFC Energy below 17.16 will invariably lead to 16.5 with seco ……..

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LSE:AGM Applied Graphene Close Mid-Price: 14 Percentage Change: -3.45% Day High: 14.5 Day Low: 13.25

In the event Applied Graphene experiences weakness below 13.25 it calcula ……..

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LSE:AML Aston Martin Close Mid-Price: 125.45 Percentage Change: -11.81% Day High: 142.2 Day Low: 124.95

If Aston Martin experiences continued weakness below 124.95, it will inva ……..

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LSE:BARC Barclays Close Mid-Price: 144.66 Percentage Change: -4.25% Day High: 150.26 Day Low: 142.72

Weakness on Barclays below 142.72 will invariably lead to 128 with second ……..

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LSE:BDEV Barrett Devs Close Mid-Price: 323.4 Percentage Change: -12.76% Day High: 341.8 Day Low: 317.8

Target met. Continued weakness against BDEV taking the price below 317.8 ……..

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LSE:BT.A British Telecom Close Mid-Price: 121.5 Percentage Change: -4.67% Day High: 127.15 Day Low: 120.8

Target met. If British Telecom experiences continued weakness below 120.8 ……..

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LSE:CNA Centrica Close Mid-Price: 72.22 Percentage Change: -4.45% Day High: 75.44 Day Low: 71.12

In the event Centrica experiences weakness below 71.12 it calculates with ……..

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LSE:CPI Capita Close Mid-Price: 23.62 Percentage Change: -6.42% Day High: 25.1 Day Low: 22.9

Continued weakness against CPI taking the price below 22.9 calculates as ……..

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View Previous Capita & Big Picture ***

LSE:DARK Darktrace Plc Close Mid-Price: 299 Percentage Change: -4.72% Day High: 318.2 Day Low: 286.6

Target met. In the event Darktrace Plc experiences weakness below 286.6 i ……..

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LSE:EMG MAN Close Mid-Price: 217.4 Percentage Change: -6.90% Day High: 231.6 Day Low: 214.7

If MAN experiences continued weakness below 214.7, it will invariably lea ……..

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LSE:FGP Firstgroup Close Mid-Price: 104.6 Percentage Change: -3.33% Day High: 110 Day Low: 103.1

Weakness on Firstgroup below 103.1 will invariably lead to 102p. If broke ……..

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LSE:FOXT Foxtons Close Mid-Price: 30.55 Percentage Change: -7.42% Day High: 31.5 Day Low: 28.7

Target met. Continued weakness against FOXT taking the price below 28.7 c ……..

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LSE:HSBA HSBC Close Mid-Price: 467 Percentage Change: -3.40% Day High: 479.5 Day Low: 461.95

Target met. If HSBC experiences continued weakness below 461.95, it will ……..

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LSE:IAG British Airways Close Mid-Price: 94.67 Percentage Change: -5.05% Day High: 99.95 Day Low: 93.62

Target met. Continued weakness against IAG taking the price below 93.62 c ……..

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LSE:IGAS Igas Energy Close Mid-Price: 50.6 Percentage Change: -8.00% Day High: 56 Day Low: 49.5

In the event Igas Energy experiences weakness below 49.5 it calculates wi ……..

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LSE:IGG IG Group Close Mid-Price: 743.5 Percentage Change: -1.85% Day High: 759.5 Day Low: 736

If IG Group experiences continued weakness below 736, it will invariably ……..

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LSE:ITRK Intertek Close Mid-Price: 3688 Percentage Change: -2.38% Day High: 3744 Day Low: 3663

Weakness on Intertek below 3663 will invariably lead to 3597 with seconda ……..

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View Previous Intertek & Big Picture ***

LSE:ITV ITV Close Mid-Price: 55.22 Percentage Change: -4.53% Day High: 58.1 Day Low: 53.98

Continued weakness against ITV taking the price below 53.98 calculates as ……..

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LSE:LLOY Lloyds Grp. Close Mid-Price: 40.72 Percentage Change: -2.72% Day High: 41.98 Day Low: 40.44

Target met. If Lloyds Grp. experiences continued weakness below 40.44, it ……..

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LSE:MKS Marks and Spencer Close Mid-Price: 95.54 Percentage Change: -7.87% Day High: 103.05 Day Low: 93.9

Target met. Weakness on Marks and Spencer below 93.9 will invariably lead ……..

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LSE:OCDO Ocado Plc Close Mid-Price: 469.3 Percentage Change: -10.16% Day High: 512.8 Day Low: 468.4

Target met. If Ocado Plc experiences continued weakness below 468.4, it w ……..

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LSE:ODX Omega Diags Close Mid-Price: 2.4 Percentage Change: -4.00% Day High: 2.5 Day Low: 2.4

Continued weakness against ODX taking the price below 2.4 calculates as l ……..

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LSE:OXIG Oxford Instruments Close Mid-Price: 1764 Percentage Change: -1.12% Day High: 1782 Day Low: 1716

Target met. Weakness on Oxford Instruments below 1716 will invariably lea ……..

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LSE:RBD Reabold Resources PLC Close Mid-Price: 0.24 Percentage Change: -13.39% Day High: 0.29 Day Low: 0.22

Target met. If Reabold Resources PLC experiences continued weakness below ……..

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LSE:SBRY Sainsbury Close Mid-Price: 172.3 Percentage Change: -5.51% Day High: 181.35 Day Low: 172.3

Target met. Weakness on Sainsbury below 172.3 will invariably lead to 169 ……..

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LSE:SMT Scottish Mortgage Investment Trust Close Mid-Price: 763 Percentage Change: -5.78% Day High: 807 Day Low: 760.8

If Scottish Mortgage Investment Trust experiences continued weakness belo ……..

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LSE:TSCO Tesco Close Mid-Price: 200.3 Percentage Change: -5.30% Day High: 210.8 Day Low: 199.8

Target met. In the event Tesco experiences weakness below 199.8 it calcul ……..

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LSE:TW. Taylor Wimpey Close Mid-Price: 85.08 Percentage Change: -6.46% Day High: 89.56 Day Low: 83.18

Continued weakness against TW. taking the price below 83.18 calculates as ……..

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LSE:VOD Vodafone Close Mid-Price: 101.84 Percentage Change: -3.12% Day High: 105.28 Day Low: 101.2

If Vodafone experiences continued weakness below 101.2, it will invariabl ……..

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View Previous Vodafone & Big Picture ***

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

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