#FTSE #Futures
Bank of America commented, in passing, they expect the US S&P 500 to drop around 20% early next year. Meanwhile, the FT suspect oil prices will rise thanks to the cap on Russian prices. We often express considerable reservations, when these sort of clickbait predictions surface, quite literally expecting the opposite to be what really happens.
The price of Brent Crude is now at a level not seen since December 23rd last year. Almost amusingly, Brent hit our oft mooted $77 drop target exactly, then bounced to 79.23 dollars. Unfortunately, next time it slumped it broke the 77 dollar level, making us suspect the next chance for some sort of rebound may be around 74.75 dollars. At time of writing, Brent is trading at 76.4 dollars and our software demands it exceed 79.23 before we should take any recovery seriously.
With regard the S&P, it’s currently showing some reasonable chart potentials. As shown clearly, the index broke below its pandemic Red uptrend but eventually exceeded the level of trend break. It’s currently carefully, very carefully, remaining above Red and giving some hope for the future. The index needs exceed 4100 points to hopefully ignite the touchpaper for some useful moves as this should prove capable of triggering an initial 4323 with secondary, if bettered, at 4530. The secondary is a really big deal, putting the index at risk of longer term traffic to 5108 points eventually.
Should a sufficiently clever reason be discovered to drive some reversals, below 3880 calculates with the potential of reversal to 3808 with secondary, if broken, down at 3760 and hopefully a bounce. Neither target level dumps the index in a zone, where a 20% reversal works out as possible.
FTSE for FRIDAY It’s been an annoying week for the FTSE with three sessions using the opening minute of trade to enact most of the days work. Few market strategies prove more irritating than the FTSE being gapped, then spiked, down at the open of business. Generally, this sort of nonsense proved a recipe for a wasted day, both Tuesday and Thursday finding themselves ensnared in such confusion.
The situation now suggests weakness below 7465 risks reversal to an initial 7419 points with secondary, if broken, at 7364. Of visual interest, our secondary target level implies the potential of another bonk against the Red uptrend since Covid-19 hit in 2020. Logically, we shall expect a bounce, should the index opt to attempt this line. If triggered, the tightest stop loss level looks like 7508 points.
A converse scenario asks what should be anticipated, should the FTSE 100 drag itself above this weeks downtrend at 7520 points?
Above 7520 calculates with an initial potential of 7546 with secondary, if exceeded, working out at 7605 points.
Have a good weekend and take care if chewing Xmas lights.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:00:04PM | BRENT | 76.61 | 75.87 | 74.76 | 79.3 | 80.55 | 80.925 | 77.31 | ‘cess | ||
| 10:06:14PM | GOLD | 1788.83 | 1781 | 1777 | 1788 | 1795 | 1803 | 1781 | ‘cess | ||
| 10:08:26PM | FTSE | 7474.24 | 7461 | 7442 | 7494 | 7511 | 7529 | 7471 | ‘cess | ||
| 10:10:03PM | STOX50 | 3928.4 | 3913 | 3897 | 3933 | 3935 | 3943 | 3915 | ‘cess | ||
| 10:11:34PM | GERMANY | 14288 | 14190 | 14148 | 14258 | 14305 | 14337 | 14250 | |||
| 10:13:11PM | US500 | 3963.37 | 3926 | 3913 | 3947 | 3973 | 3982 | 3944 | |||
| 10:15:11PM | DOW | 33772 | 33545 | 33482 | 33703 | 33893 | 33949 | 33656 | ‘cess | ||
| 10:17:16PM | NASDAQ | 11631 | 11462 | 11376 | 11585 | 11674 | 11715 | 11567 | ‘cess | ||
| 10:19:12PM | JAPAN | 27744 | 27401 | 27261 | 27611 | 27762 | 27873 | 27653 |
8/12/2022 FTSE Closed at 7472 points. Change of -0.23%. Total value traded through LSE was: £ 5,146,170,093 a change of -10.96%
7/12/2022 FTSE Closed at 7489 points. Change of -0.43%. Total value traded through LSE was: £ 5,779,316,344 a change of 0.25%
6/12/2022 FTSE Closed at 7521 points. Change of -0.61%. Total value traded through LSE was: £ 5,764,980,013 a change of 13.53%
5/12/2022 FTSE Closed at 7567 points. Change of 0.15%. Total value traded through LSE was: £ 5,078,150,606 a change of 13.07%
2/12/2022 FTSE Closed at 7556 points. Change of -0.03%. Total value traded through LSE was: £ 4,491,031,065 a change of -9.42%
1/12/2022 FTSE Closed at 7558 points. Change of -0.2%. Total value traded through LSE was: £ 4,958,235,310 a change of -42.03%
30/11/2022 FTSE Closed at 7573 points. Change of 0.81%. Total value traded through LSE was: £ 8,552,950,993 a change of 45.26%
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:ASC Asos** **LSE:AVCT Avacta** **LSE:AZN Astrazeneca** **LSE:BBY BALFOUR BEATTY** **LSE:BT.A British Telecom** **LSE:CPI Capita** **LSE:EZJ EasyJet** **LSE:VOD Vodafone** **
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Updated charts published on : Asos, Avacta, Astrazeneca, BALFOUR BEATTY, British Telecom, Capita, EasyJet, Vodafone,
LSE:ASC Asos Close Mid-Price: 576.5 Percentage Change: -5.10% Day High: 610.5 Day Low: 575
If Asos experiences continued weakness below 575, it will invariably lead ……..
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View Previous Asos & Big Picture ***
LSE:AVCT Avacta. Close Mid-Price: 107 Percentage Change: + 2.39% Day High: 107.5 Day Low: 101
If Avacta experiences continued weakness below 101, it will invariably lea ……..
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View Previous Avacta & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 11316 Percentage Change: + 0.52% Day High: 11366 Day Low: 11206
Above just 11366 should now prove significant, triggering a visit to an in ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 337 Percentage Change: + 1.63% Day High: 347.6 Day Low: 337
All BALFOUR BEATTY needs are mid-price trades ABOVE 348 to improve acceler ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 112.55 Percentage Change: -3.72% Day High: 116.05 Day Low: 112.3
In the event British Telecom experiences weakness below 112, it calculates ……..
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View Previous British Telecom & Big Picture ***
LSE:CPI Capita Close Mid-Price: 22.64 Percentage Change: -1.99% Day High: 23.2 Day Low: 22.5
Continued weakness against CPI taking the price below 22 calculates as lea ……..
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View Previous Capita & Big Picture ***
LSE:EZJ EasyJet Close Mid-Price: 375.9 Percentage Change: -0.90% Day High: 379.8 Day Low: 365
If EasyJet experiences continued weakness below 365, it will invariably le ……..
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View Previous EasyJet & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 85.93 Percentage Change: -1.97% Day High: 87.55 Day Low: 84.96
Continued weakness against VOD taking the price below 84 calculates as lea ……..
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View Previous Vodafone & Big Picture ***