#FTSE #GOLD
Our brief comment yesterday on Meta (Facebook) appears to be proving quite prescient, the share price currently 25% down and looking increasingly capable of achieving our threatened bottom at 77 dollars. As for the FTSE, it’s astounding to note it’s almost hopeful for the future. But only “almost”…
The FTSE had ample opportunity to close slightly higher than its previous closing price high, 7086 points on October 4th. Instead, the UK market closed, despite a fairly happy day, just up 0.2% at 7073 points, below the previous high. This is a bit of an issue, thanks to a potential which was making a grudging appearance this week.
We’ve been banging on about how important it is for a falling market to exceed a point of trend break, effectively cancelling any immediate reversal predictions. The FTSE broke its Pandemic Trend back on September 23rd, the exact level of trend break calculating at 7180.17 points. In accordance with our in-house rules, the index needs close above this level to make the first step to escape from a market region which sports a potential bottom around 6350 points. To be fair, if the UK index would even trade above 7180 points, our inclination will be to ease up on the doom and gloom and instead allow a bias toward optimism, that feeling everyone has until they look in a mirror. Or maybe that’s just me!
Humour aside, the FTSE achieving a high of 7093 on Thursday was almost a big deal as movement above 7094 points calculates with the potential of gains in the direction of 7146 next with secondary, if beaten, working out at 7197. This secondary is obviously important, residing above the trend break level of 7180 and hopefully giving the UK index a chance to close in the realms of relative safety. If triggered, the tightest stop looks wide at 7034 points.
If trouble is planned, below 7034 looks capable of issues as reversal to an initial 6995 calculates as possible. If broken, our secondary comes in at 6970 and hopefully a proper bounce.
Have a good weekend. For us, it’s Nacho’s Sunday for Formula 1 from Mexico.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:43:18PM | BRENT | 94.84 | 93.25 | 92.87 | 94.58 | 95.58 | 98.77 | 93.3 | ‘cess | ||
| 9:47:26PM | GOLD | 1662.02 | 1654 | 1650 | 1665 | 1674 | 1678 | 1660 | |||
| 9:50:48PM | FTSE | 7040 | 6994 | 6984 | 7035 | 7077 | 7096 | 7044 | ‘cess | ||
| 9:55:18PM | STOX50 | 3579.8 | 3540 | 3521 | 3593 | 3619 | 3631 | 3587 | Shambles | ||
| 9:57:34PM | GERMANY | 13126 | 13026 | 12972.5 | 13136 | 13236 | 13269 | 13134 | ‘cess | ||
| 9:59:40PM | US500 | 3784 | 3747 | 3724 | 3812 | 3839 | 3861 | 3808 | Success | ||
| 10:09:53PM | DOW | 31980 | 31849 | 31676 | 32067 | 32290 | 32431 | 32060 | ‘cess | ||
| 10:15:26PM | NASDAQ | 11075 | 11005 | 10902 | 11115 | 11422 | 11509 | 11184 | Success | ||
| 10:17:44PM | JAPAN | 27040 | 26923 | 26813 | 27062 | 27208 | 27241 | 27074 | Success |
27/10/2022 FTSE Closed at 7073 points. Change of 0.24%. Total value traded through LSE was: £ 4,925,692,743 a change of -22.87%
26/10/2022 FTSE Closed at 7056 points. Change of 0.61%. Total value traded through LSE was: £ 6,386,400,567 a change of 43.51%
25/10/2022 FTSE Closed at 7013 points. Change of 0%. Total value traded through LSE was: £ 4,450,107,561 a change of -2.44%
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%
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:IAG British Airways** **LSE:IGAS Igas Energy** **LSE:IGG IG Group** **LSE:IHG Intercontinental Hotels Group** **LSE:ITM ITM Power** **LSE:ITV ITV** **LSE:JET Just Eat** **LSE:NWG Natwest** **LSE:RR. Rolls Royce** **LSE:SRP Serco** **LSE:TSCO Tesco** **
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Updated charts published on : BP PLC, British Airways, Igas Energy, IG Group, Intercontinental Hotels Group, ITM Power, ITV, Just Eat, Natwest, Rolls Royce, Serco, Tesco,
LSE:BP. BP PLC. Close Mid-Price: 481.9 Percentage Change: + 3.41% Day High: 483.3 Day Low: 466.45
Target met. In the event of BP PLC enjoying further trades beyond 483.3, ……..
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View Previous BP PLC & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 119.66 Percentage Change: + 1.08% Day High: 120.62 Day Low: 117
All British Airways needs are mid-price trades ABOVE 120.62 to improve a ……..
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View Previous British Airways & Big Picture ***
LSE:IGAS Igas Energy Close Mid-Price: 27.7 Percentage Change: -3.15% Day High: 29.5 Day Low: 26
Target met. In the event Igas Energy experiences weakness below 26 it cal ……..
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View Previous Igas Energy & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 796.5 Percentage Change: -0.31% Day High: 802 Day Low: 790
Further movement against IG Group ABOVE 802 should improve acceleration t ……..
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View Previous IG Group & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 4659 Percentage Change: + 0.15% Day High: 4730 Day Low: 4609
Target met. Continued trades against IHG with a mid-price ABOVE 4730 shou ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 83.7 Percentage Change: -19.87% Day High: 87.66 Day Low: 66.02
Target met. If ITM Power experiences continued weakness below 66.02, it w ……..
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View Previous ITM Power & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 69.6 Percentage Change: + 1.31% Day High: 70.12 Day Low: 67.62
All ITV needs are mid-price trades ABOVE 70.12 to improve acceleration to ……..
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View Previous ITV & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1501.6 Percentage Change: -0.56% Day High: 1533.8 Day Low: 1476.4
Continued trades against JET with a mid-price ABOVE 1533.8 should improve ……..
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View Previous Just Eat & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 247.7 Percentage Change: + 1.27% Day High: 247.4 Day Low: 240.3
Further movement against Natwest ABOVE 247.4 should improve acceleration ……..
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View Previous Natwest & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 76.34 Percentage Change: + 2.51% Day High: 76.64 Day Low: 73.88
All Rolls Royce needs are mid-price trades ABOVE 76.64 to improve acceler ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SRP Serco Close Mid-Price: 163.3 Percentage Change: -0.12% Day High: 167 Day Low: 162
In the event of Serco enjoying further trades beyond 167, the share shoul ……..
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View Previous Serco & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 212.8 Percentage Change: + 0.28% Day High: 215.6 Day Low: 210.8
All Tesco needs are mid-price trades ABOVE 215.6 to improve acceleration ……..
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View Previous Tesco & Big Picture ***