#Gold #SP500
Worldwide, market trends starting in March 2020 became quite apparent. We’ve become used to knowing it as the Pandemic Trend, represented as a Red line on charts dealing with World indices. In-house, we’ve a rule of thumb which kicks in, when a “price” exceeds the point of a trend break. Briefly, we expect the price to continue climbing in the absence of anything negative happening.
On Monday 24th October, both Wall St and the S&P exceeded their previous trend break levels, as did the Euro Stoxx 50 and the DAX. We’ve shown a collection of chart excerpts below (and will admit to being puzzled by Australia) but worldwide, it appears markets are choosing to exceed their point of trend break, giving considerable hope for market conditions in the next few months.
Except, that is, for viewers in the UK…
The FTSE needs exceed somewhere around 7180 points to join the Optimistic Party yet languishes below Red. From our perspective, there’s no similarity to the S&P500 as while it remains below Red, the index value has exceeded the level at trend break (just – it was 3782 points) and now looks like claiming its place in a hopeful future. The other outlier, Australia, exceeded its Red trend at the start of October and visually seems to have moved faster than everyone else. We suspect it shall now stop messing around and join the rest in enjoying positive movement toward the year end.
Except for viewers in the UK… as we said earlier. The FTSE remains risky, possibly able to explore a bottom around 6350 if a politician does anything silly, like think. Hopefully it shall prove to be the case where the FTSE succumbs to the wider mood, experiencing gains in concert with everyone else.
Legal and General Group Curiously, when we apply our Pandemic trend argument to LGEN, their share price needs close above 240p to suggest happy days ahead. Currently trading around 233p, we’ve a pocketful of hope as it doesn’t need any great impetus to start some recovery. Near term, above 240p should impart sufficient oomph to make an attempt at 246p next. If exceeded, our secondary calculates at 268p, an ambition which makes a lot of visual sense, especially as it looks like a “glass ceiling” in waiting.
In the longer term, closure above 268p shall prove crucial as we can already work out a longer term ambition at 324p sometime in the future.
However, despite us gushing modest optimism, we dare not forget the salient detail of the price currently trading below the historic Red uptrend. This sort of positioning frequently allows any negative news flow to provide exaggerated reversals. In the case of Legal and General, below 219p should provide sufficient early warning as this looks able to trigger reversal to an initial 207 with secondary, if broken, at a hopeful bottom of 177p
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:48:32PM | BRENT | 91.84 | Shambles | ||||||||
| 9:50:39PM | GOLD | 1650.18 | 1643 | 1637 | 1626 | 1654 | 1659 | 1665 | 1673 | 1647 | |
| 9:52:46PM | FTSE | 7020 | ‘cess | ||||||||
| 9:55:13PM | STOX50 | 3531 | ‘cess | ||||||||
| 9:57:34PM | GERMANY | 12926 | ‘cess | ||||||||
| 9:59:32PM | US500 | 3794 | 3725 | 3705 | 3670 | 3760 | 3810 | 3824 | 3857 | 3775 | |
| 10:20:58PM | DOW | 31503 | Success | ||||||||
| 10:22:53PM | NASDAQ | 11419.97 | ‘cess | ||||||||
| 10:24:46PM | JAPAN | 27152 |
24/10/2022 FTSE Closed at 7013 points. Change of 0.63%. Total value traded through LSE was: £ 4,561,328,828 a change of -1.86%
21/10/2022 FTSE Closed at 6969 points. Change of 0.37%. Total value traded through LSE was: £ 4,647,659,700 a change of -14.5%
20/10/2022 FTSE Closed at 6943 points. Change of 0.27%. Total value traded through LSE was: £ 5,436,111,933 a change of 16.23%
19/10/2022 FTSE Closed at 6924 points. Change of -0.17%. Total value traded through LSE was: £ 4,677,060,342 a change of 1.53%
18/10/2022 FTSE Closed at 6936 points. Change of 0.23%. Total value traded through LSE was: £ 4,606,547,755 a change of 0%
17/10/2022 FTSE Closed at 6920 points. Change of 0.9%. Total value traded through LSE was: £ 4,606,393,574 a change of -22.77%
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%
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:BP. BP PLC** **LSE:CCL Carnival** **LSE:CEY Centamin** **LSE:HIK Hikma** **LSE:IHG Intercontinental Hotels Group** **LSE:NWG Natwest** **LSE:OXIG Oxford Instruments** **LSE:QFI Quadrise** **LSE:ZOO Zoo Digital** **
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Updated charts published on : BP PLC, Carnival, Centamin, Hikma, Intercontinental Hotels Group, Natwest, Oxford Instruments, Quadrise, Zoo Digital,
LSE:BP. BP PLC. Close Mid-Price: 470 Percentage Change: + 1.19% Day High: 474.1 Day Low: 458.25
Further movement against BP PLC ABOVE 475 should maintain acceleration tow ……..
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View Previous BP PLC & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 621.6 Percentage Change: -0.61% Day High: 642 Day Low: 614.6
Above 642 still points at the potential of the price drifting up to 685 wi ……..
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View Previous Carnival & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 93 Percentage Change: + 2.67% Day High: 94.74 Day Low: 89.98
Target Met. Next above 94.75 points at 96.8 next with secondary, if better ……..
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View Previous Centamin & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1191 Percentage Change: -0.50% Day High: 1205 Day Low: 1174.5
Target Met. Further weakness below 1174 now points at 1130 next with secon ……..
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View Previous Hikma & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 4528 Percentage Change: + 1.37% Day High: 4633 Day Low: 4479
Now mildly hopeful, above 4633 should apparently make a stab at 4701 next ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 240.5 Percentage Change: + 2.30% Day High: 242.7 Day Low: 236
Continued trades against NWG with a mid-price ABOVE 243 should improve the ……..
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View Previous Natwest & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 1914 Percentage Change: + 3.12% Day High: 1962 Day Low: 1864
It is possible something useful is about to happen as above 1962 points at ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:QFI Quadrise. Close Mid-Price: 2.52 Percentage Change: + 22.28% Day High: 2.6 Day Low: 2.07
All Quadrise needs are mid-price trades ABOVE 2.8 to improve acceleration ……..
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View Previous Quadrise & Big Picture ***
LSE:ZOO Zoo Digital. Close Mid-Price: 150.5 Percentage Change: + 5.61% Day High: 150.5 Day Low: 142.5
All Zoo Digital needs are mid-price trades ABOVE 151 to improve accelerati ……..
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View Previous Zoo Digital & Big Picture ***