#Gold #SP500
We’re long time fans of the Gold Rush TV franchise on Discovery, faithfully tuning in every week to fast forward through any segments which involve “Freds Crew”, the “Hoffman Crew” or “The Kelly Crew” on Bering Sea gold. This avoidance ritual is fairly easily explained, the Discovery producers tending allocate time to some mining crews who couldn’t find water in an ocean.
The idiot value of some gold miners cannot be overstated. On Gold Rush, one group of miners recently completed a weeks digging and sifting, discovering absolutely nothing in the process. Had any thought been given to actually testing their bucket loads of dirt – like real miners do – the results would have been quite different. Or on Bering Sea Gold, the “Kelly Crew”, this year armed with an enormous dredge and digger, actually achieved substantially less gold than an experienced, pregnant, female miner. Once again, what separated the crews was some basic intelligence, getting advice and testing the results. Thankfully now absent from Gold Rush, the “Hoffman Crew” were notorious as the miners who decided to dig deep, perhaps because they liked the colour of wild flowers on the ground above. Over the years, the story ending is always the same, the incompetent crews run out of money, presumably due to the producers stopping paying them for entertainment value.
Our own garden stream now boasts a handmade device near the bottom of the waterfall, the aim being for tons of gold to become trapped in a bottom layer of carpet as the water rushes through. Despite watching Gold Rush for around 10 years, the first iteration of my personal gold trap vanished, following its first battle with heavy water flow. The current version resides further away from the water fall and around once every few weeks, the hairy carpet is squeezed out to disgorge a load of invisible gold, calling into question my original efforts at panning for gold in the quartz and iron mineral laden stream. Perhaps a couple of tiny flakes of gold, each roughly the size of a politicians integrity, did not prove anything for the stream which makes its way down from a fresh water well, roughly 500 feet up the mountain. Then again, our Gold trap cost absolutely nothing to operate or buy, and hope always springs eternal, as they say.
Our previous look at Gold last December proved remarkably successful, the price triggering and climbing above 1805 dollars to our 1901 dollar target. This time around, we’re not quite as confident as to the approaching direction for the price of Gold.
The immediate situation suggests weakness below 1807 dollars should provoke a slight meltdown to an initial 1765 with secondary, if broken, at 1698 dollars. If triggered, the tightest stop loss level calculates around $1822. Visually, the immediate cycle looks perfectly capable of making an attempt at the 1700 dollar level, a point where we suspect a bounce should occur.
What happens if the price of Gold bubbles up above $1822?
Such a scenario currently presents the potential of a lift to a surprising 1848 dollars with our longer term secondary, if bettered, working out at $1888. As we said earlier, at present we’ve no great confidence the market itself even has a clue to real direction and arithmetically, we find it easy to jump on this bandwagon.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:38:34PM | BRENT | 82.1 | |||||||||
| 9:40:08PM | GOLD | 1817.38 | 1806 | 1802 | 1787 | 1820 | 1820 | 1825 | 1832 | 1809 | |
| 9:42:08PM | FTSE | 7945.71 | Success | ||||||||
| 9:44:26PM | STOX50 | 4255.9 | Success | ||||||||
| 10:05:00PM | GERMANY | 15421 | ‘cess | ||||||||
| 10:11:34PM | US500 | 3986 | 3976 | 3964 | 3946 | 3987 | 4018 | 4026 | 4038 | 3995 | Success |
| 10:13:48PM | DOW | 32910 | Success | ||||||||
| 10:16:23PM | NASDAQ | 12070.7 | Success | ||||||||
| 10:18:46PM | JAPAN | 27525 | ‘cess |
27/02/2023 FTSE Closed at 7935 points. Change of 0.72%. Total value traded through LSE was: £ 5,272,651,300 a change of -17.32%
24/02/2023 FTSE Closed at 7878 points. Change of -0.37%. Total value traded through LSE was: £ 6,377,185,346 a change of 16.01%
23/02/2023 FTSE Closed at 7907 points. Change of -0.29%. Total value traded through LSE was: £ 5,497,114,036 a change of -4.82%
22/02/2023 FTSE Closed at 7930 points. Change of -0.59%. Total value traded through LSE was: £ 5,775,714,264 a change of -17.45%
21/02/2023 FTSE Closed at 7977 points. Change of -0.46%. Total value traded through LSE was: £ 6,996,845,952 a change of 263.69%
20/02/2023 FTSE Closed at 8014 points. Change of 0.12%. Total value traded through LSE was: £ 1,923,863,385 a change of -74.93%
17/02/2023 FTSE Closed at 8004 points. Change of -0.1%. Total value traded through LSE was: £ 7,672,519,841 a change of 57.8%
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:BBY BALFOUR BEATTY** **LSE:BLOE Block Energy PLC** **LSE:CBX Cellular Goods** **LSE:FRES Fresnillo** **LSE:RR. Rolls Royce** **LSE:SBRY Sainsbury** **LSE:STAN Standard Chartered** **LSE:TSCO Tesco** **
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Updated charts published on : BALFOUR BEATTY, Block Energy PLC, Cellular Goods, Fresnillo, Rolls Royce, Sainsbury, Standard Chartered, Tesco,
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 370.8 Percentage Change: + 1.53% Day High: 372.2 Day Low: 365.2
Further movement against BALFOUR BEATTY ABOVE 372.2 should improve accele ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:BLOE Block Energy PLC Close Mid-Price: 1.05 Percentage Change: -4.55% Day High: 1.1 Day Low: 1.05
Continued weakness against BLOE taking the price below 1.05 calculates as ……..
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View Previous Block Energy PLC & Big Picture ***
LSE:CBX Cellular Goods. Close Mid-Price: 0.78 Percentage Change: + 19.23% Day High: 0.78 Day Low: 0.65
Continued trades against CBX with a mid-price ABOVE 0.78 should improve t ……..
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View Previous Cellular Goods & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 763.8 Percentage Change: -0.65% Day High: 775.4 Day Low: 756
Target met. Weakness on Fresnillo below 756 will invariably lead to 747 w ……..
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View Previous Fresnillo & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 145 Percentage Change: + 6.59% Day High: 144.9 Day Low: 139.12
All Rolls Royce needs are mid-price trades ABOVE 144.9 to improve acceler ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 271.2 Percentage Change: + 3.12% Day High: 272.2 Day Low: 264.2
Continued trades against SBRY with a mid-price ABOVE 272.2 should improve ……..
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View Previous Sainsbury & Big Picture ***
LSE:STAN Standard Chartered. Close Mid-Price: 787.6 Percentage Change: + 2.13% Day High: 795.6 Day Low: 769.8
Target met. All Standard Chartered needs are mid-price trades ABOVE 795.6 ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 254.2 Percentage Change: + 2.96% Day High: 255.7 Day Low: 245.9
All Tesco needs are mid-price trades ABOVE 255.7 to improve acceleration ……..
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View Previous Tesco & Big Picture ***