FTSE for FRIDAY (FTSE:UKX) When I look to my right, on the bookshelf there’s a series of titles called “How S**t Works”, bought from a charity shop for a fiver. Alas, nowhere in the books is there a section on the UK FTSE which is a pity, because it urgently needs a repairman to visit! Thursday proved a strange day, worldwide, but of all the markets we cover, only the FTSE made our jaw drop.
By any standards, Thursday was weird with 5 of the 6 index we cover for clients hitting targets, all targets. Firstly, they started the day by successfully hitting all our Short position targets, then bounced and triggered movements to our Long position targets. Once again, all targets were successfully achieved. Except for the UK index which pouted, refusing the play the game. In fairness, this sort of thing in quite rare with individual index’ but when it occured with virtually all markets, we didn’t know what to make of things. Perhaps it shall be the case the FTSE was just “slow” and maybe Friday shall surprise everyone…
There’s very little positive to be said about the UK index and currently, we must conclude the FTSE is heading down to around 6450. But it may be about 6350 points or even 6240 points. The absurd thing, when we collate this series of numbers, we could even believe the UK index really intends an a visit to around 5200 points eventually, ‘cos it makes sense numerically. From a Big Picture perspective, the UK index needs above 7200 points to give an indication it’s climbing out of the gutter. The index is running low on nails to hammer into its coffin, closing Wednesday this week at a new “lower low”, achieving a price level not witnessed since April last year.
From a near term perspective, if the FTSE intends follow the rest of the world in making an upward lunge, above just 6902 points (it closed Thursday at 6852) should prove capable of triggering party time as a movement to 6995 calculates as possible. If exceeded, our secondary works out at an improbable looking 7035 points. If triggered, the tightest stop loss level looks like 6826 points.
Our alternate scenario looks harder to trigger, requiring the index below 6770 points to push the potential of a drop to 6721 points. If broken, our secondary calculates down at 6591 points.
A glance at the chart below reveals sometime important. Despite our positive scenario above giving a suggestion of an impressive 130 point gain, there’s very little about the visual picture which inspires confidence. Instead, the words “shuffling deckchairs on the Titanic” spring to mind as the FTSE must exceed 7100 points to give the very first indication some recovery of strength is possible. Even in Friday proves to be a happy day for the FTSE, the index needs recover quite firmly to remove the odor of dead cats around an immediate bounce.
Time Issued
Market
Price At Issue
Short Entry
Fast Exit
Slow Exit
Stop
Long Entry
Fast Exit
Slow Exit
Stop
PriorFUTURES
11:33:35PM
BRENT
93.89
91
90.47
92.34
94.1
94.33
93.3
Success
11:35:37PM
GOLD
1665.49
1661
1657
1671
1682
1687
1661
Success
11:38:15PM
FTSE
6891
6802
6769
6861
6905
6957
6853
Shambles
11:40:46PM
STOX50
3401.7
3354
3335
3378
3404
3427
3381
Success
11:44:17PM
GERMANY
12471
12350
12313
12465
12498
12554
12374
Success
11:47:13PM
US500
3671.17
3618
3609
3649
3686
3708
3635
Success
11:50:30PM
DOW
30063
29660
29514
29906
30184
30346
29920
Success
11:53:13PM
NASDAQ
11026
10841
10757
10994
11093
11196
10950
Success
11:55:58PM
JAPAN
26799
26533
26465
26713
26820
26877
26670
Success
13/10/2022 FTSE Closed at 6850 points. Change of 0.35%. Total value traded through LSE was: £ 5,933,139,923 a change of 16.34%
12/10/2022 FTSE Closed at 6826 points. Change of -0.86%. Total value traded through LSE was: £ 5,099,638,855 a change of -0.72%
11/10/2022 FTSE Closed at 6885 points. Change of -1.06%. Total value traded through LSE was: £ 5,136,859,995 a change of 18.36%
10/10/2022 FTSE Closed at 6959 points. Change of -0.46%. Total value traded through LSE was: £ 4,340,006,444 a change of -6.55%
7/10/2022 FTSE Closed at 6991 points. Change of -0.09%. Total value traded through LSE was: £ 4,644,361,624 a change of -27.89%
6/10/2022 FTSE Closed at 6997 points. Change of -0.78%. Total value traded through LSE was: £ 6,440,759,247 a change of 17.34%
5/10/2022 FTSE Closed at 7052 points. Change of -0.48%. Total value traded through LSE was: £ 5,488,765,319 a change of -9.96%
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:AML Aston Martin** **LSE:ASC Asos** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CEY Centamin** **LSE:DARK Darktrace Plc** **LSE:EMG MAN** **LSE:FOXT Foxtons** **LSE:FRES Fresnillo** **LSE:HL. Hargreaves Lansdown** **LSE:IGAS Igas Energy** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **LSE:JET Just Eat** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **LSE:PHP Primary Health** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:SRP Serco** **LSE:STAN Standard Chartered** **LSE:TLW Tullow** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : AFC Energy, Aston Martin, Asos, Barrett Devs, British Telecom, Carclo, Centamin, Darktrace Plc, MAN, Foxtons, Fresnillo, Hargreaves Lansdown, Igas Energy, ITM Power, Intertek, Just Eat, Lloyds Grp., Marks and Spencer, National Glib, Natwest, Ocado Plc, Primary Health, Scottish Mortgage Investment Trust, Serco, Standard Chartered, Tullow, Tesco, Taylor Wimpey,
LSE:AFC AFC Energy. Close Mid-Price: 18 Percentage Change: + 1.07% Day High: 18.32 Day Low: 17.06
Weakness on AFC Energy below 17. will invariably lead to 16.5 with seconda ……..
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LSE:AML Aston Martin. Close Mid-Price: 91.36 Percentage Change: + 1.02% Day High: 94.86 Day Low: 86.04
Continued weakness against AML taking the price below 86 calculates as lea ……..
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LSE:ASC Asos. Close Mid-Price: 542 Percentage Change: + 6.59% Day High: 560 Day Low: 503
Continued weakness against ASC taking the price below 503 calculates as le ……..
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LSE:BDEV Barrett Devs. Close Mid-Price: 341.8 Percentage Change: + 5.04% Day High: 351.5 Day Low: 317.8
Now above 352 should apparently generate a lift to 361 next with secondary ……..
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LSE:BT.A British Telecom. Close Mid-Price: 120.8 Percentage Change: + 1.09% Day High: 123.85 Day Low: 117.05
Target Met. Now below 117 allows for reversal to 114 next with secondary, ……..
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LSE:CAR Carclo Close Mid-Price: 15.62 Percentage Change: -3.85% Day High: 16 Day Low: 15.5
Target Met. This needs above 19p to give early indications of recovery, al ……..
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LSE:CEY Centamin. Close Mid-Price: 84.86 Percentage Change: + 1.56% Day High: 87.82 Day Low: 83
Above 88 could prove interesting, giving the potential of a lift to an ini ……..
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LSE:DARK Darktrace Plc. Close Mid-Price: 297 Percentage Change: + 3.85% Day High: 299.8 Day Low: 275
Weakness on Darktrace Plc below 275 will invariably lead to 269 with secon ……..
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LSE:EMG MAN. Close Mid-Price: 217.5 Percentage Change: + 4.62% Day High: 217.9 Day Low: 202.9
Target Met. In the event MAN experiences weakness below 202, it calculates ……..
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LSE:FOXT Foxtons Close Mid-Price: 27.8 Percentage Change: -1.42% Day High: 28.95 Day Low: 27.5
In the event Foxtons experiences weakness below 27.5 it calculates with a ……..
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LSE:FRES Fresnillo Close Mid-Price: 728.2 Percentage Change: -4.08% Day High: 764.2 Day Low: 698.8
Weakness on Fresnillo below 698 will invariably lead to 655p with secondar ……..
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LSE:HL. Hargreaves Lansdown. Close Mid-Price: 797.4 Percentage Change: + 1.24% Day High: 811.8 Day Low: 766.2
Continued weakness against HL. taking the price below 759 calculates as le ……..
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LSE:IGAS Igas Energy Close Mid-Price: 47 Percentage Change: -1.26% Day High: 48.6 Day Low: 43.3
If Igas Energy experiences continued weakness below 43, it will invariably ……..
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LSE:ITM ITM Power. Close Mid-Price: 91.1 Percentage Change: + 0.20% Day High: 94.9 Day Low: 86
In the event ITM Power experiences weakness below 86, it calculates with a ……..
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LSE:ITRK Intertek Close Mid-Price: 3621 Percentage Change: -0.41% Day High: 3624 Day Low: 3485
In the event Intertek experiences weakness below 3484, it calculates with ……..
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LSE:JET Just Eat. Close Mid-Price: 1115.6 Percentage Change: + 1.09% Day High: 1148.6 Day Low: 1054.8
Target Met. Now below 1053 now threatens 996 next with secondary, if broke ……..
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LSE:LLOY Lloyds Grp.. Close Mid-Price: 41.77 Percentage Change: + 6.86% Day High: 41.95 Day Low: 38.51
Continued weakness against LLOY taking the price below 38.5 calculates as ……..
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LSE:MKS Marks and Spencer. Close Mid-Price: 98.44 Percentage Change: + 5.62% Day High: 100 Day Low: 91.7
In the event Marks and Spencer experiences weakness below 91.7 it calculat ……..
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LSE:NG. National Glib. Close Mid-Price: 860.6 Percentage Change: + 0.26% Day High: 879.8 Day Low: 844.4
Target Met. If National Grid experiences continued weakness below 844, it ……..
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LSE:NWG Natwest. Close Mid-Price: 228.7 Percentage Change: + 7.67% Day High: 230.3 Day Low: 210.9
Weakness on Natwest below 210 will invariably lead to 198 with secondary ( ……..
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LSE:OCDO Ocado Plc. Close Mid-Price: 435.8 Percentage Change: + 10.86% Day High: 440.8 Day Low: 380.3
Continued weakness against OCDO taking the price below 380 calculates as l ……..
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LSE:PHP Primary Health. Close Mid-Price: 98.85 Percentage Change: + 0.15% Day High: 102.1 Day Low: 95.75
If Primary Health experiences continued weakness below 95, it will invaria ……..
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LSE:SMT Scottish Mortgage Investment Trust Close Mid-Price: 729.6 Percentage Change: -0.44% Day High: 740.2 Day Low: 698.4
In the event Scottish Mortgage Investment Trust experiences weakness below ……..
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LSE:SRP Serco. Close Mid-Price: 153.4 Percentage Change: + 2.54% Day High: 154.2 Day Low: 148.9
Weakness on Serco below 148 will invariably lead to 139 with secondary, if ……..
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LSE:STAN Standard Chartered. Close Mid-Price: 551.4 Percentage Change: + 2.38% Day High: 552.8 Day Low: 530.6
Continued weakness against STAN taking the price below 530 calculates as l ……..
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LSE:TLW Tullow. Close Mid-Price: 38.66 Percentage Change: + 0.73% Day High: 39.22 Day Low: 37.1
In the event Tullow experiences weakness below 37.1 it calculates with a d ……..
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LSE:TSCO Tesco. Close Mid-Price: 200.9 Percentage Change: + 0.88% Day High: 203.2 Day Low: 194.35
In the event Tesco experiences weakness below 194, it calculates with a dr ……..
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LSE:TW. Taylor Wimpey. Close Mid-Price: 86.6 Percentage Change: + 0.23% Day High: 89.18 Day Low: 80.8
Continued weakness against TW. taking the price below 80 calculates as lea ……..
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*** End of “Updated Today” comments on shares.