FTSE for Friday on Thursday (FTSE:UKX)

#FTSE #Gold  As the markets wind down for the Easter Weekend, we were struck by how important our Blue downtrend featured in last Fridays article has proven.  Last Thursday, we’d speculated whether the markets failure to close above the downtrend was significant and now, it appears to be the case, only in a way we hadn’t entirely anticipated.

This week has seen the index close above the trend, retreat slightly to close exactly on the trend, and now, is making slight upward nudges. It’s certainly creating a visual picture of strength and, if it were a share, we’d be quite comfortable speculating on the potentials for continued growth. A tiny little fly landed in the ointment when the FTSE closed 10 points below the previous high this week, the lower high implying a risk of slower movement.

However, as it’s Easter and the annual chocolate binge for everyone except me (T2 Diabetes), about the best scenario we dare give is the potential of movement next above 7679 triggering growth toward 7751 next. Our secondary, should such a level be exceeded, now calculates at 7932 points and the potential for a stutter in the cycle. The reasons behind this risk are pretty obvious from the chart below, the market previously opting to stall at such a level at the start of March. In-house, when we come across these “stalls” on the way up, we’ve tended to settle on them simply ensuring a delay in any rising cycle, rather than a solid ceiling level.

Who knows, perhaps the FTSE still intends a visit to the 8200 level eventually.

 

Our alternate scenario, if everything intends fall apart, comes should the FTSE discover sufficient excuse to slither below 7630 points, such a calamity calculating with an initial drop potential at 7581 and hopefully a bounce as it meets the historic downtrend. Our secondary, if broken, is at 7532 and a bit problematic, risking the index vanishing down faster than Scotlands Nicola Sturgeon avoiding TV crews, should this level also break.

We can provide 7144 as a potential bottom level but realistically, the FTSE could find itself at 6800 faster than Ms Sturgeon will doubtless say; “Who’s this Peter Murrell person? I’ve no recollection of marrying him… I’ll need to check my diary as we never talked!”

 

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:32:42PM BRENT 84.74 83.71 83.14 85.12 85.91 86.36 84.93
9:34:45PM GOLD 2021.06 2010 2006 2020 2024 2028 2018 ‘cess
9:36:27PM FTSE 7673 7631 7626 7651 7682 7697 7663
9:39:06PM STOX50 4304.3 4289 4277 4305 4327 4336 4307 ‘cess
9:51:23PM GERMANY 15531 15472 15373 15574 15621 15637 15577 ‘cess
10:19:56PM US500 4088.27 4072 4060 4095 4108 4117 4088 ‘cess
10:21:39PM DOW 33474.5 33318 33274 33440 33538 33586 33446
10:24:00PM NASDAQ 12961.44 12898 12807 12985 13132 13216 13062 Success
10:26:36PM JAPAN 27673 27552 27494 27653 27856 28007 27723 Success

 

5/04/2023 FTSE Closed at 7662 points. Change of 0.37%. Total value traded through LSE was: £ 5,017,004,065 a change of -11.84%
4/04/2023 FTSE Closed at 7634 points. Change of -0.51%. Total value traded through LSE was: £ 5,690,797,913 a change of -12.58%
3/04/2023 FTSE Closed at 7673 points. Change of 0.55%. Total value traded through LSE was: £ 6,510,009,325 a change of 8.45%
31/03/2023 FTSE Closed at 7631 points. Change of 0.14%. Total value traded through LSE was: £ 6,002,582,813 a change of 23.52%
30/03/2023 FTSE Closed at 7620 points. Change of 0.74%. Total value traded through LSE was: £ 4,859,647,247 a change of 17.38%
29/03/2023 FTSE Closed at 7564 points. Change of 1.07%. Total value traded through LSE was: £ 4,139,938,147 a change of -38.03%
28/03/2023 FTSE Closed at 7484 points. Change of 0.17%. Total value traded through LSE was: £ 6,680,856,903 a change of 37.06%

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:BARC Barclays** **LSE:CNA Centrica** **LSE:JET Just Eat** **LSE:NG. National Glib** **LSE:PMG Parkmead** **LSE:SDY Speedyhire** **LSE:TRN The Trainline** **

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Updated charts published on : Aston Martin, Barclays, Centrica, Just Eat, National Glib, Parkmead, Speedyhire, The Trainline,

LSE:AML Aston Martin Close Mid-Price: 213 Percentage Change: -4.23% Day High: 234.4 Day Low: 209.2

This is getting a little dodgy, perhaps their method of cheating in Formul ……..

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View Previous Aston Martin & Big Picture ***

LSE:BARC Barclays. Close Mid-Price: 147.72 Percentage Change: + 0.83% Day High: 150.22 Day Low: 147.22

Continued trades against BARC with a mid-price ABOVE 150.22 should improv ……..

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View Previous Barclays & Big Picture ***

LSE:CNA Centrica. Close Mid-Price: 109.4 Percentage Change: + 1.67% Day High: 111.05 Day Low: 107.75

Target met. All Centrica needs are mid-price trades ABOVE 111.05 to impro ……..

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LSE:JET Just Eat Close Mid-Price: 1353 Percentage Change: -6.24% Day High: 1479 Day Low: 1336

If Just Eat experiences continued weakness below 1336, it will invariably ……..

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View Previous Just Eat & Big Picture ***

LSE:NG. National Glib. Close Mid-Price: 1129 Percentage Change: + 2.36% Day High: 1130.5 Day Low: 1106

Target met. In the event of National Glib enjoying further trades beyond ……..

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LSE:PMG Parkmead Close Mid-Price: 25.25 Percentage Change: -4.54% Day High: 26.4 Day Low: 23.5

In the event Parkmead experiences weakness below 22 it calculates with a d ……..

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LSE:SDY Speedyhire Close Mid-Price: 30.5 Percentage Change: -5.72% Day High: 32.35 Day Low: 30.5

Target met. Continued weakness against SDY taking the price below 30.5 ca ……..

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LSE:TRN The Trainline Close Mid-Price: 236.2 Percentage Change: -2.56% Day High: 242.4 Day Low: 232.6

Target met. In the event The Trainline experiences weakness below 232.6 i ……..

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View Previous The Trainline & Big Picture ***

*** End of “Updated Today” comments on shares.

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