#FTSE #SP500
Upsets come in many forms and rarely can we know the direction the next problem is coming from. The forest, at the top of our garden, provided something new to consider. We’ve a couple of LED light bars which are sealed inside old 2 litre cola bottles. The low voltage lights, powered by redundant mobile phone chargers, are literally chucked on the forest floor with 20 metres of thin power cable leading to the tough, weatherproof, electrical supply box. Any animal chewing the cable is unlikely to be harmed by the 3,3v supply for the green and blue light bottles which cast a pleasant glow in the trees.
However, seeing our clever waterproof lights suddenly moving around at night provoked a panic. A group of three Roe Deer were investigating, one with blue light over its head, another holding the green light in its mouth. The animals had clearly figured out the clear bottles were not edible, not dangerous, but could provide a source of entertainment. Realising an epic photograph was possible, it only took a move toward the house for an insignificant silent stampede to commence as the animals took flight. Thankfully, the lights were undamaged, resuming their usual position on the forest floor, another completely unexpected encounter with Argyll’s wildlife over and, as usual, without even a terrible snapshot from a mobile phone.
Obviously, “expecting the unexpected” should be the official mantra for stock markets worldwide. At present, our inclination is to anticipate trouble from North America, the S&P 500 and Wall St both giving early signs for potential trouble. Balancing against this, the UK and Europe appear to be surprisingly strong, following their own trend rather than slavishly adhering to the USA.
Currently, the S&P 500 is trading around 3980 points, needing above 4300 points for us to suggest something along the lines of “we no longer thing it’s going to drop, just go long and you may pick up over 500 points along the way!”. Unfortunately, from a charty viewpoint, it seems possible the market is also aware of the pickle it’s got itself into and is trying to avoid blindly heading into a zone where good times look very possible.
Instead, it’s now the case where below 3700 points calculates with the potential of reversal to 3300 points with secondary, if broken, at 2958 points. All the S&P needs is its own family of Roe Deer to stumble along and cause some havoc.
FTSE for Friday. As mentioned earlier, the FTSE appears surprisingly strong, when compared against North America. Despite the last couple of weeks proving as decisive as myself when viewing a takeaway menu (before opting for my usual), there is something fairly important which can be spotted with market movements. As the two insets show, for some reason the immediate Red uptrend since October last year has been deemed inviolate, the market refusing to allow the FTSE to close below the trend. It makes us suspect we’ve been witnessing a slowdown, rather than warning of potential FTSE reversals.
The immediate situation therefore appears quite promising as above 7955 points should now make an attempt at an initial 7989 points. Our longer term secondary target calculates at 8033 points. If this scenario triggers, visually the tightest stop appears to be at 7900 points.
If things intend go a little wrong, below 7878 could easily trigger reversal to an initial 7858 with secondary, if broken, at 7795 points and hopefully a rebound.
Have a good weekend and, if you’re a glutton for punishment, remember the first Grand Prix of the season is taking place in Bahrain
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:36:25PM | BRENT | 84.44 | 78.84 | 71.12 | 87.51 | 89.38 | 93.375 | 83 | Big Pic | ||
| 9:44:43PM | GOLD | 1836 | 1803 | 1758 | 1847 | 1848 | 1866 | 1818 | Big Pic | ||
| 9:48:19PM | FTSE | 7966.24 | 7932 | 7921 | 7953 | 7971 | 8021 | 7921 | Long=Big | ||
| 9:51:04PM | STOX50 | 4267 | 4225 | 4214 | 4245 | 4267 | 4278 | 4249 | ‘cess | ||
| 9:53:33PM | GERMANY | 15382.72 | 15296 | 15257 | 15335 | 15394 | 15501 | 15318 | |||
| 9:55:49PM | US500 | 3981.37 | 3963 | 3954 | 3975 | 3991 | 3995 | 3976 | |||
| 9:58:27PM | DOW | 32982 | 32737 | 32673 | 32972 | 33076 | 33127 | 32904 | Success | ||
| 10:00:41PM | NASDAQ | 12036.5 | 11807 | 11738 | 11921 | 12077 | 12088 | 12001 | Success | ||
| 10:03:06PM | JAPAN | 27700 | 27522 | 27474 | 27638 | 27735 | 27818 | 27560 | Success |
2/03/2023 FTSE Closed at 7944 points. Change of 34.33%. Total value traded through LSE was: £ 6,861,176,489 a change of -1.62%
1/03/2023 FTSE Closed at 5914 points. Change of -24.91%. Total value traded through LSE was: £ 6,974,404,128 a change of -21.96%
28/02/2023 FTSE Closed at 7876 points. Change of -0.74%. Total value traded through LSE was: £ 8,937,075,687 a change of 69.5%
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%
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:AZN Astrazeneca** **LSE:CPI Capita** **LSE:EMG MAN** **LSE:IAG British Airways** **LSE:OCDO Ocado Plc** **LSE:OXIG Oxford Instruments** **
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Updated charts published on : Astrazeneca, Capita, MAN, British Airways, Ocado Plc, Oxford Instruments,
LSE:AZN Astrazeneca. Close Mid-Price: 10864 Percentage Change: + 0.44% Day High: 10856 Day Low: 10752
If Astrazeneca experiences continued weakness below 10750, it will invaria ……..
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View Previous Astrazeneca & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 34.86 Percentage Change: + 19.71% Day High: 34.9 Day Low: 29.2
Target met. Further movement against Capita ABOVE 34.9 should improve acc ……..
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View Previous Capita & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 286.8 Percentage Change: + 2.80% Day High: 287.2 Day Low: 279
Target met. Further movement against MAN ABOVE 287.2 should improve accel ……..
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View Previous MAN & Big Picture ***
LSE:IAG British Airways Close Mid-Price: 151.24 Percentage Change: -1.60% Day High: 154.26 Day Low: 151.02
Weakness on British Airways below 151.02 will invariably lead to 147 nex ……..
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View Previous British Airways & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 526.6 Percentage Change: -0.57% Day High: 534 Day Low: 513.8
Target met. In the event Ocado Plc experiences weakness below 513.8 it ca ……..
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View Previous Ocado Plc & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2625 Percentage Change: + 1.74% Day High: 2630 Day Low: 2565
In the event of Oxford Instruments enjoying further trades beyond 2630, t ……..
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View Previous Oxford Instruments & Big Picture ***