#FTSE #Gold
As 2022 slid downhill toward 2023, we expressed frustration at many “respected market experts” predicting recession and dire times ahead in 2023. We could see quite the opposite. Even the current UK PM joined in the chorus of doom. Unsurprisingly, the FTSE just closed at Its Highest Level Ever, perhaps letting folk know just how competent “the experts” are.
We’d voiced considerable scepticism, due to many little signals in the market making us believe “the experts” were talking absolute rubbish, each joining in a gossip game which could possibly be traced back to a single source. Considerable back-pedalling has been taking place during the last week, both the US and UK treasuries now trying hard to correct their previous statements, without any apology. This nonsense actually matters as clickbait thinking amongst “the market experts” work on the mindset of many private investors, often causing folk to sell early when they should really hold. Equally, they create a mood where private investors will often be quite literally afraid of making a buy decision.
And, to reiterate, the FTSE just closed a session at its Highest Level Ever with 7911 points, obviously considerably disappointing the Bank of England. Quite why we’re supposed to trust an institution whose idea of tackling inflation was to use interest rates to push up prices, defeats us.
As for Friday, we’re curious whether the FTSE shall do similar to shares, when they paint a new high. Invariably, the next day produces some reversals, generally fairly short lived as the following week will often show improved confidence.
To take a positive stance first, above 7940 should next make an attempt at 7961 points with secondary, if beaten, at 7990 points. If triggered, the tightest stop looks like just 7910 points.
Our converse scenario is a little less confident, due to something freakish which often happens in a climbing market. Should a value start to recede, our initial target level will usually be hit, often broken, but our secondary is rarely hit. Over the years, we’ve attempted to quantify this behaviour but, similar to Twitter execs currently before the US congress, there appears to be no rhyme or reason to what is happening. Only when our secondary targets start being regularly broken does it become clear the market has possibly changed direction.
Currently, below 7910 calculates with the potential of a visit to an initial 7880 points. If broken, our secondary works out at 7846 points.
The next few sessions should prove interesting. 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 |
| 9:55:05PM | BRENT | 84.06 | 83.4 | 82.68 | 84.48 | 84.7 | 85.235 | 83.8 | ‘cess | ||
| 9:57:21PM | GOLD | 1860.92 | 1859 | 1848 | 1873 | 1877 | 1884 | 1865 | ‘cess | ||
| 9:59:35PM | FTSE | 7906.33 | 7892 | 7884 | 7918 | 7930 | 7940 | 7910 | Shambles | ||
| 10:01:58PM | STOX50 | 4233.1 | 4218 | 4194 | 4250 | 4255 | 4261 | 4235 | Success | ||
| 10:04:20PM | GERMANY | 15455 | 15403 | 15377 | 15503 | 15553 | 15603 | 15473 | Success | ||
| 10:09:04PM | US500 | 4088.17 | 4068 | 4043 | 4093 | 4132 | 4140 | 4104 | Success | ||
| 10:11:28PM | DOW | 33722.3 | 33589 | 33318 | 33776 | 33933 | 34062 | 33812 | |||
| 10:19:31PM | NASDAQ | 12408 | 12364 | 12319 | 12444 | 12577 | 12622 | 12455 | Success | ||
| 10:21:49PM | JAPAN | 27549 | 27504 | 27436 | 27570 | 27641 | 27679 | 27564 |
9/02/2023 FTSE Closed at 7911 points. Change of 0.33%. Total value traded through LSE was: £ 7,130,980,933 a change of 23.74%
8/02/2023 FTSE Closed at 7885 points. Change of 0.27%. Total value traded through LSE was: £ 5,763,001,863 a change of -1.93%
7/02/2023 FTSE Closed at 7864 points. Change of 0.36%. Total value traded through LSE was: £ 5,876,288,872 a change of 0.42%
6/02/2023 FTSE Closed at 7836 points. Change of -0.82%. Total value traded through LSE was: £ 5,851,906,357 a change of 5.01%
3/02/2023 FTSE Closed at 7901 points. Change of 1.04%. Total value traded through LSE was: £ 5,572,467,076 a change of -26.46%
2/02/2023 FTSE Closed at 7820 points. Change of 0.76%. Total value traded through LSE was: £ 7,577,557,777 a change of 8.79%
1/02/2023 FTSE Closed at 7761 points. Change of -0.13%. Total value traded through LSE was: £ 6,964,989,564 a change of 4.57%
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:AZN Astrazeneca** **LSE:BARC Barclays** **LSE:BP. BP PLC** **LSE:HSBA HSBC** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:STAN Standard Chartered** **
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Updated charts published on : Aston Martin, Astrazeneca, Barclays, BP PLC, HSBC, ITV, Lloyds Grp., Standard Chartered,
LSE:AML Aston Martin. Close Mid-Price: 182.5 Percentage Change: + 2.96% Day High: 188.4 Day Low: 175.55
Continued trades against AML with a mid-price ABOVE 189 should improve the ……..
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View Previous Aston Martin & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 11190 Percentage Change: + 4.07% Day High: 11348 Day Low: 10878
Some sort of miracle has taken place. Above 11348 now should attempt an in ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BARC Barclays Close Mid-Price: 189.6 Percentage Change: -0.06% Day High: 193.16 Day Low: 189.56
All Barclays needs are mid-price trades ABOVE 193.2 to improve acceleratio ……..
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View Previous Barclays & Big Picture ***
LSE:BP. BP PLC. Close Mid-Price: 545.7 Percentage Change: + 2.34% Day High: 545.3 Day Low: 532.1
Target Met. Now above 546 allows for an initial 555p with secondary, if be ……..
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View Previous BP PLC & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 615.8 Percentage Change: + 0.56% Day High: 620.4 Day Low: 610
Continued trades against HSBA with a mid-price ABOVE 620.4 should improve ……..
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View Previous HSBC & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 90.06 Percentage Change: + 0.18% Day High: 96.56 Day Low: 88.96
Target met. In the event of ITV enjoying further trades beyond 96.56, the ……..
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View Previous ITV & Big Picture ***
LSE:LLOY Lloyds Grp.. Close Mid-Price: 53.97 Percentage Change: + 0.60% Day High: 54.33 Day Low: 53.5
Further movement against Lloyds Grp. ABOVE 54.33 should improve accelerat ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 767.6 Percentage Change: + 11.44% Day High: 772.4 Day Low: 686.4
This has gotten interesting as above 773 now suggests coming movement to a ……..
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View Previous Standard Chartered & Big Picture ***