#FTSE #Nasdaq
In celebration of the first really sunny day for an age, the little tractor was coaxed into life, and the lawn given its final cut of the year. Hopefully! Provoking the panic was the sight of a particular patch of grass, suddenly sprouting, a real puzzle as this area of the lawn usually needs cut the least. Only once the tractor was hosed down and back in the shed did the completely obvious penny drop.
It’s Autumn and the trees have lost their leaves, creating a situation where the early morning sun is now shining through the office windows, the forest no longer shielding our eyes. This sunshine, while making its autumnal way to the office, also illuminates about a 10 metre wide strip of lawn, which has waited the entire summer to frantically grow.
If only something similar would happen with the UK’s AIM market…
We’re waiting with baited breath for the FTSE to burst into life, the UK’s index again achieving a “higher high” since closing above the point of trend-break on Tuesday. Okay, so far things are proving about as exciting as a report on Facebook (Meta) share price, something we still suspect shall bottom by $77. It’s currently in the 80’s. But for the FTSE, on Tuesday it closed a whole 6 points above the trend-break level and Thursday found us asthmatic with a closing price now 8 points above the trend level. However, it’s the AIM which is of immediate concern.
Currently trading around 809, the AIM needs exceed 861 points to exceed its personal Pandemic trend-break level and cause an outbreak of enthusiasm. Thankfully, this index doesn’t need try terribly hard to kick itself into life.
At present, we’d regard 825 as a viable trigger level for the AIM, a number which should trigger movement to an initial 842 with secondary, if exceeded, working out at 867 points. This should permit this index to close above the critical 861 points and as a result, discover itself trading in a zone where a longer term attraction should be viewed at 1098 points.
Perhaps it shall be the case the AIM will discover its own little patch of sunlight and start some recovery, maybe even with one of these mythical Santa Rally events. Otherwise, it’s actually trading in a zone where our ultimate bottom works out at a silly looking 575 points.
FTSE for Friday Things are becoming a little concerning, thanks to efforts in the USA and UK to derail economic hopes with interest rates. The latest BoE projections suggesting they’ve successfully forced the UK into recession for the next couple of years will prove especially worrying for folk with variable mortgages, reminding of a lyric from a (terrible) David Bowie song “Puting out the fire with gasoline”. We’re more than a little puzzled “they” opted to wait until the FTSE was showing signs of recovery before acting. In the USA, things are already looking quite fragile and now, it appears the Nasdaq intends bottom around 9200 points. Similarly, the S&P 500 looks like it may struggle to avoid a visit to the 3000 point level but conversely, Wall St isn’t showing any great signals for calamity, needing below 31550 to raise the first eyebrow.
Near term, the FTSE below 7075 points looks capable of reversal to an initial 7031 with secondary, when broken, down at 6968 points and hopefully a bounce. If triggered, the tightest stop looks reasonable at 7121 points.
Our alternate, happier, scenario from a world which promotes the concept of the UK market heading to 7467 points, suggests strength above 7208 points should take aim at an initial 7251 with our longer term (or later that day) secondary ambition working out at 7331 points. Hopefully our little bit of sunlight also shines on the FTSE.
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 |
| 8:59:04PM | BRENT | 94.27 | 93.8 | 92.745 | 95.24 | 96.27 | 96.77 | 94.95 | |||
| 9:09:59PM | GOLD | 1629.95 | 1617 | 1612 | 1629 | 1633 | 1638 | 1624 | Success | ||
| 9:11:50PM | FTSE | 7191.99 | 7133 | 7126 | 7166 | 7201 | 7244 | 7167 | |||
| 9:18:44PM | STOX50 | 3591.8 | 3560 | 3549 | 3586 | 3598 | 3611 | 3578 | |||
| 9:56:02PM | GERMANY | 13127.5 | 13018 | 12943 | 13151 | 13197 | 13216 | 13160 | ‘cess | ||
| 9:58:16PM | US500 | 3716 | 3695 | 3663 | 3749 | 3767 | 3776 | 3746 | ‘cess | ||
| 10:00:32PM | DOW | 31987.2 | 31713 | 31546 | 32035 | 32240 | 32418 | 32060 | ‘cess | ||
| 10:04:16PM | NASDAQ | 10677 | 10667 | 10583 | 10780 | 10957 | 11057 | 10856 | ‘cess | ||
| 10:07:33PM | JAPAN | 27277 | 27251 | 27137 | 27361 | 27407 | 27471 | 27298 | ‘cess |
3/11/2022 FTSE Closed at 7188 points. Change of 0.62%. Total value traded through LSE was: £ 4,482,607,171 a change of -6.53%
2/11/2022 FTSE Closed at 7144 points. Change of -0.58%. Total value traded through LSE was: £ 4,796,024,351 a change of -6.77%
1/11/2022 FTSE Closed at 7186 points. Change of 1.3%. Total value traded through LSE was: £ 5,144,430,090 a change of -18.4%
31/10/2022 FTSE Closed at 7094 points. Change of 0.67%. Total value traded through LSE was: £ 6,304,594,565 a change of 56.13%
28/10/2022 FTSE Closed at 7047 points. Change of -0.37%. Total value traded through LSE was: £ 4,038,109,035 a change of -18.02%
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%
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:AML Aston Martin** **LSE:BP. BP PLC** **LSE:BT.A British Telecom** **LSE:ECO ECO (Atlantic) O & G** **LSE:NG. National Glib** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:TSCO Tesco** **
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Updated charts published on : Aston Martin, BP PLC, British Telecom, ECO (Atlantic) O & G, National Glib, Sainsbury, Scancell, Tesco,
LSE:AML Aston Martin. Close Mid-Price: 105 Percentage Change: + 17.21% Day High: 103 Day Low: 88.6
Target met. Further movement against Aston Martin ABOVE 105 should improv ……..
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View Previous Aston Martin & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 493.5 Percentage Change: + 1.89% Day High: 494.25 Day Low: 479.85
All BP PLC needs are mid-price trades ABOVE 494.25 to improve acceleratio ……..
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View Previous BP PLC & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 116.4 Percentage Change: -8.88% Day High: 123.45 Day Low: 113.95
Target met. In the event British Telecom experiences weakness below 113.9 ……..
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View Previous British Telecom & Big Picture ***
LSE:ECO ECO (Atlantic) O & G. Close Mid-Price: 39.6 Percentage Change: + 14.78% Day High: 41.5 Day Low: 36.25
Target met. In the event of ECO (Atlantic) O & G enjoying further trades ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 963.6 Percentage Change: -0.19% Day High: 966.6 Day Low: 950
All National Glib needs are mid-price trades ABOVE 966.6 to improve accel ……..
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View Previous National Glib & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 211.6 Percentage Change: + 6.95% Day High: 212.5 Day Low: 199.15
Now above 213 should be useful, indicating the potential of a move to 225 ……..
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View Previous Sainsbury & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 18.62 Percentage Change: + 7.97% Day High: 18.75 Day Low: 17.12
Continued trades against SCLP with a mid-price ABOVE 18.75 should improve ……..
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View Previous Scancell & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 223 Percentage Change: + 2.86% Day High: 223.2 Day Low: 215.4
Continued trades against TSCO with a mid-price ABOVE 223.2 should improve ……..
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View Previous Tesco & Big Picture ***