#FTSE #Gold
Quite how a week of just three sessions has become a lot of work is a bit confusing. A new trainee, supposedly just watching, has become a bit of a nightmare due to his little black notebook. Roughly once an hour, depending on the coffee schedule, he flips open the book and asks a question, doubtless expecting a quick reply. Instead, we end up returning to the computers, easily spending several hours as few things about the stock market deserve quick answers. This nephew (nepotism rules here) has reminded us many of the things we do are “belt & braces”, constantly attempting to verify our own work before committing our conclusions to print. The better part of an afternoon was derailed, trying to explain our flippant comment last night as to why “the FTSE is giving encouraging squeaks”.
His question was fair, a glance at a chart showing the potential for some happy days. Gratifyingly, the FTSE managed end Thursday in positive territory, everywhere else in Europe and the USA embracing the colour Red.
For folk used to the market, the FTSE has closed above the previous three highs of 2022. If attempting a quick call as to market direction, this visually implies further gains should be anticipated. After all, near term movement above 7660 points should bring further movement to an initial 7705 points, a quite respectable ambition. Our secondary, should this level be exceeded, works out at 7750 points, along with a chance of some hesitation.
However, yet another potential signal is teasing the FTSE, the Green horizontal trend on the chart. This level is currently at 7667 points and closure above shall prove a really big deal. This shall indicate the FTSE has finally managed to exceed the pre-pandemic highs of 2020, entering a phase where a longer term 8080 looks like a sane ambition. This optimistic gesture, while nowhere close to how other markets performed once they exceeded their personal Covid-19 levels, certainly gives hope for the FTSE future.
As always, we’ve some room for concern, thanks to how the rest of the world performed on Thursday. After all, the FTSE has often appeared incapable of seeing a bandwagon without clambering on board. With everything else looking a little Red, there’s always a risk of the FTSE shall decide it’s missing out on the chance of some self harm. Currently market futures for Friday are giving little away but we suspect further reversals shall occur in the USA and Europe.
Our converse scenario, should the FTSE opt to follow the herd, allows weakness now below 7594 to bring reversal to an initial 7560 points with secondary, if broken, at 7470 points (again) and hopefully a bounce. Quite odd why that number keeps cropping up!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:00:27PM | BRENT | 78.84 | 77.61 | 77.29 | 79.77 | 79.96 | 80.85 | 78.55 | |||
| 10:06:33PM | GOLD | 1833.07 | 1824 | 1821 | 1838 | 1838 | 1842 | 1831 | Success | ||
| 10:25:13PM | FTSE | 7639.21 | 7605 | 7589 | 7635 | 7658 | 7680 | 7608 | Success | ||
| 10:32:36PM | STOX50 | 3965.4 | 3947 | 3943 | 3962 | 3977 | 3989 | 3957 | Shambles | ||
| 11:14:33PM | GERMANY | 14462 | 14402 | 14378 | 14468 | 14508 | 14525 | 14438 | |||
| 11:58:24PM | US500 | 3816 | 3757 | 3724 | 3831 | 3902 | 3930 | 3846 | |||
| 12:01:08AM | DOW | 32966 | 32786 | 32670 | 32951 | 33112 | 33221 | 32931 | ‘cess | ||
| 12:03:13AM | NASDAQ | 10766 | 10726 | 10678 | 10804 | 10846 | 10883 | 10766 | ‘cess | ||
| 12:13:38AM | JAPAN | 25746 | 25677 | 25667 | 25721 | 25935 | No idea | what’s | next |
5/01/2023 FTSE Closed at 7633 points. Change of 0.63%. Total value traded through LSE was: £ 6,047,458,257 a change of 10.27%
4/01/2023 FTSE Closed at 7585 points. Change of 0.97%. Total value traded through LSE was: £ 5,484,169,808 a change of 109.75%
29/12/2022 FTSE Closed at 7512 points. Change of -100%. Total value traded through LSE was: £ 2,614,666,454 a change of 0%
28/12/2022 FTSE Closed at 7497 points. Change of 0%. Total value traded through LSE was: £ 4,019,239,763 a change of 0%
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:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:BDEV Barrett Devs** **LSE:CEY Centamin** **LSE:FRES Fresnillo** **LSE:HIK Hikma** **LSE:HSBA HSBC** **LSE:IGAS Igas Energy** **LSE:ITRK Intertek** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:RR. Rolls Royce** **LSE:SBRY Sainsbury** **LSE:STAN Standard Chartered** **LSE:TSCO Tesco** **
********
Updated charts published on : Barclays, BALFOUR BEATTY, Barrett Devs, Centamin, Fresnillo, Hikma, HSBC, Igas Energy, Intertek, ITV, Lloyds Grp., Marks and Spencer, National Glib, Natwest, Rolls Royce, Sainsbury, Standard Chartered, Tesco,
LSE:BARC Barclays. Close Mid-Price: 172.42 Percentage Change: + 2.58% Day High: 173.74 Day Low: 166.38
Target met. All Barclays needs are mid-price trades ABOVE 173.74 to impro ……..
</p
View Previous Barclays & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 352.4 Percentage Change: + 1.21% Day High: 354.8 Day Low: 340
Continued trades against BBY with a mid-price ABOVE 354.8 should improve ……..
</p
View Previous BALFOUR BEATTY & Big Picture ***
LSE:BDEV Barrett Devs. Close Mid-Price: 430.5 Percentage Change: + 0.37% Day High: 435.2 Day Low: 421.8
Further movement against Barrett Devs ABOVE 435.2 should improve accelera ……..
</p
View Previous Barrett Devs & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 122.9 Percentage Change: + 2.46% Day High: 123.65 Day Low: 119.45
Target met. Continued trades against CEY with a mid-price ABOVE 123.65 sh ……..
</p
View Previous Centamin & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 946.2 Percentage Change: -2.19% Day High: 996.8 Day Low: 942.4
All Fresnillo needs are mid-price trades ABOVE 996.8 to improve accelerat ……..
</p
View Previous Fresnillo & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1647.5 Percentage Change: + 2.58% Day High: 1656.5 Day Low: 1600.5
Continued trades against HIK with a mid-price ABOVE 1656.5 should improve ……..
</p
View Previous Hikma & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 565.3 Percentage Change: + 4.01% Day High: 568.4 Day Low: 545.5
Target met. Further movement against HSBC ABOVE 568.4 should improve acce ……..
</p
View Previous HSBC & Big Picture ***
LSE:IGAS Igas Energy. Close Mid-Price: 16.8 Percentage Change: + 5.99% Day High: 16.35 Day Low: 15.1
Weakness on Igas Energy below 15.1 will invariably lead to 15p with secon ……..
</p
View Previous Igas Energy & Big Picture ***
LSE:ITRK Intertek Close Mid-Price: 4167 Percentage Change: -0.90% Day High: 4227 Day Low: 4161
Further movement against Intertek ABOVE 4227 should improve acceleration ……..
</p
View Previous Intertek & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 79.12 Percentage Change: + 0.33% Day High: 80 Day Low: 77.32
All ITV needs are mid-price trades ABOVE 80 to improve acceleration towar ……..
</p
View Previous ITV & Big Picture ***
LSE:LLOY Lloyds Grp.. Close Mid-Price: 48.31 Percentage Change: + 1.83% Day High: 48.46 Day Low: 46.85
Continued trades against LLOY with a mid-price ABOVE 48.46 should improve ……..
</p
View Previous Lloyds Grp. & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 136.15 Percentage Change: + 3.42% Day High: 138.85 Day Low: 133.5
In the event of Marks and Spencer enjoying further trades beyond 138.85, ……..
</p
View Previous Marks and Spencer & Big Picture ***
LSE:NG. National Glib. Close Mid-Price: 1029.5 Percentage Change: + 0.00% Day High: 1041 Day Low: 1025.5
Continued trades against NG. with a mid-price ABOVE 1041 should improve t ……..
</p
View Previous National Glib & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 279.5 Percentage Change: + 1.78% Day High: 280.3 Day Low: 270.6
Further movement against Natwest ABOVE 280.3 should improve acceleration ……..
</p
View Previous Natwest & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 102.66 Percentage Change: + 1.24% Day High: 104.22 Day Low: 101.36
All Rolls Royce needs are mid-price trades ABOVE 104.22 to improve accele ……..
</p
View Previous Rolls Royce & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 239.9 Percentage Change: + 1.78% Day High: 240.9 Day Low: 236.2
Target met. Further movement against Sainsbury ABOVE 240.9 should improve ……..
</p
View Previous Sainsbury & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 705.2 Percentage Change: + 6.78% Day High: 797.4 Day Low: 654.2
Target met. In the event of Standard Chartered enjoying further trades be ……..
</p
View Previous Standard Chartered & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 238.5 Percentage Change: + 1.49% Day High: 240.3 Day Low: 237.6
All Tesco needs are mid-price trades ABOVE 240.3 to improve acceleration ……..
</p
View Previous Tesco & Big Picture ***