#Brent #Dax
It’s funny how the Liz Truss UK Government has moved into familiar territory, the closing days of an administration, after just a few weeks. Perhaps it’s because, thanks to Boris Johnston, the media are now experienced in recognising terminal decay. Importantly though, we suspect there’s a chance, despite Prime Minister Truss oozing “charisma”, the media may be wrong.
What’s happening in the UK appears to be happening everywhere, chaotic governance, a backdrop of supply chain issues, inflation, interest rates, public unrest and dissatisfaction, energy issues, and winter sneaking in. When we glance at share prices in the northern hemisphere, it’s increasingly rare to discover any which suggest optimism, most tending to echo the prevailing sentiments not only in the wider market but, gloom extending across normal day to day life. It’s almost as if we’re living though a J K Rowling Harry Potter book, the one where “The Dementors” got loose, provoking serious alarm in Downing St, and the dodgiest special effect used in any of the films, when the wizards flew their broomsticks above the Thames into London.
Virtually every stock market north of the equator has now broken its personal uptrend, since the pandemic lows of 2020 and visually, there’s very little to be optimistic about. Curiously though, south of the equator, the picture is less gloomy, Brazil looking surprisingly confident and even Australia failing to embrace the misery fully. Perhaps it’s indeed season related as, further north, Japan is sitting on the fence and fails to give a clue as to possible market direction. For Europe and North America, we lack confidence. Except perhaps for Bitcoin, now showing signs of deserving a Big Picture update as the potential of a drop to $12k is receding!
Barclays share price shares the wider market outlook. Presently trading around 142p, the share price needs CLOSE a session above 151p to negate our dire outlook. Even if the share traded above 151p, we’d start to lose confidence in our foul projections.
Now below 140p threatens ongoing reversal to an initial 128p with secondary, if broken, an eventual (hopeful) bottom of 98p.
Our converse scenario has produced a strange series of numbers involving a game with just 10p. Above 151p should now apparently trigger recovery to an initial 161p. Our ‘longer term’ secondary works out at 171p, allegedly as part of a path which eventually calculates with 201p. Quite why everything works out in 10p increments utterly defeats us but in this instance, we’re more than a little sceptical about 201p making an appearance without the benefit of game changing news. Maybe if the UK discovered a Prime Minister capable of making a decision and sticking to it!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 6:18:43PM | BRENT | 90.67 | 90.52 | 89.38 | 87.74 | 91.45 | 93.41 | 94.09 | 95.28 | 91.76 | Shambles |
| 6:20:22PM | GOLD | 1644.19 | |||||||||
| 6:23:43PM | FTSE | 6826.93 | ‘cess | ||||||||
| 6:26:02PM | STOX50 | 3359.5 | Success | ||||||||
| 6:28:14PM | GERMANY | 12351 | 12342 | 12217 | 12062 | 12477 | 12512 | 12564 | 12755 | 12378 | ‘cess |
| 7:07:45PM | US500 | 3587.07 | ‘cess | ||||||||
| 7:16:37PM | DOW | 29677.7 | Shambles | ||||||||
| 7:47:07PM | NASDAQ | 10701 | ‘cess | ||||||||
| 7:49:37PM | JAPAN | 26574 | Success |
14/10/2022 FTSE Closed at 6858 points. Change of 0.12%. Total value traded through LSE was: £ 5,964,231,785 a change of 0.52%
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%
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:BDEV Barrett Devs** **LSE:EMG MAN** **LSE:IGAS Igas Energy** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **
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Updated charts published on : Barrett Devs, MAN, Igas Energy, Natwest, Ocado Plc,
LSE:BDEV Barrett Devs. Close Mid-Price: 347 Percentage Change: + 1.52% Day High: 356 Day Low: 345.3
Further movement against Barrett Devs ABOVE 356 should improve accelerati ……..
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View Previous Barrett Devs & Big Picture ***
LSE:EMG MAN Close Mid-Price: 213.9 Percentage Change: -1.66% Day High: 223.3 Day Low: 212.5
All MAN needs are mid-price trades ABOVE 223.3 to improve acceleration to ……..
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View Previous MAN & Big Picture ***
LSE:IGAS Igas Energy Close Mid-Price: 43 Percentage Change: -8.51% Day High: 51.4 Day Low: 42
Weakness on Igas Energy below 42 will invariably lead to 39 and hopefully ……..
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View Previous Igas Energy & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 228 Percentage Change: -0.31% Day High: 238.8 Day Low: 227.2
All Natwest needs are mid-price trades ABOVE 238.8 to improve acceleratio ……..
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View Previous Natwest & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 456.8 Percentage Change: + 4.82% Day High: 488 Day Low: 439
Target met. Further movement against Ocado Plc ABOVE 488 should improve a ……..
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View Previous Ocado Plc & Big Picture ***