#FTSE_Futures Perhaps it’s the good weather but, it’s easy to be fairly optimistic about the potentials for the FTSE, near term. Despite this week being extremely boring on the FTSE, presenting a market with a ridiculous 45 point trading range, our inclination is toward hope, ‘cos the sun is shining and there’s another thing about movements worthy of mention.
Generally speaking, when a share/commodity/index decides to have a relative flatline, it means something. When the flatline occurs as part of a drop cycle, we expect the final drop shall occur and take the stance of it just being a matter of time. Equally – and hopefully the case with the FTSE – when this sort of flatline behaviour takes place as part of a gain cycle, the converse is inevitably true with a surge to the next level almost inevitable.
We should mention the markets often keep an unpleasant movement in their bag of torture implements.
If the flatline (or glass ceiling) has been present for an extended period, a sharp price spike in the opposite direction to that expected is perfectly normal. Quite cynically, we often wonder if this is an attempt to collect stop losses or worse, trigger orders. After all, if the FTSE is indeed about to “suffer” some further upward movement, wouldn’t it be a thrilling wheeze to spike the index downward at the open, doubtless just below 7870 points to trigger a bunch of automated short positions. This is why we always warn of the dangers of opening second spikes as a price invariably will toddle away during the session in exactly the different direction from the spike.
It’s easy to imaging a bunch of smart traders placing a fire & forget order to short the FTSE, if it goes below the 7870 points from Mondays open. And if such a calamity occurred at the very open of the day anytime soon, we’d be pretty comfortable suspecting some market gains were about to take place. Of course, this is the stock market and the only rule is, there are no hard and fast rules. Sometimes, we think they change things, just to have a laugh!
For Friday, movement above 7920 points (and not a spike in the opening second please) looks capable of provoking market recovery to 7963 next with secondary, if bettered, calculating at a longer term 8062 points and a new all time high for the FTSE. The tightest stop loss looks quite reasonable at 7850 points.
Our alternate doomsday prophecy works out with the potential of below 7876 triggering reversal to 7856 points with secondary, if broken, at 7850 points. The proximity of these targets tends suggest some sort of bounce should be hoped for.
Have a good weekend, yet another one without Formula1 due to China being binned from the calendar this year.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:29:28PM | BRENT | 80.63 | 80.5 | 80.06 | 81.88 | 82.23 | 82.54 | 81.13 | ‘cess | ||
| 9:32:11PM | GOLD | 2005.58 | 1990 | 1982 | 2001 | 2013 | 2020 | 1997 | ‘cess | ||
| 9:34:08PM | FTSE | 7906.44 | 7868 | 7856 | 7894 | 7916 | 7925 | 7891 | |||
| 9:35:41PM | STOX50 | 4393.3 | 4363 | 4354 | 4382 | 4403 | 4419 | 4377 | |||
| 9:38:50PM | GERMANY | 15792.44 | 15766 | 15738 | 15830 | 15847 | 15876 | 15770 | Success | ||
| 10:06:38PM | US500 | 4133.57 | 4115 | 4099 | 4138 | 4152 | 4168 | 4131 | ‘cess | ||
| 10:09:28PM | DOW | 33762 | 33663 | 33608 | 33826 | 33902 | 33985 | 33760 | ‘cess | ||
| 10:11:50PM | NASDAQ | 13007.5 | 12937 | 12863 | 13015 | 13115 | 13140 | 13060 | Success | ||
| 10:13:59PM | JAPAN | 28593 | 28483 | 28404 | 28609 | 28686 | 28736 | 28572 |
20/04/2023 FTSE Closed at 7902 points. Change of 0.05%. Total value traded through LSE was: £ 5,554,730,029 a change of 35.28%
19/04/2023 FTSE Closed at 7898 points. Change of -0.14%. Total value traded through LSE was: £ 4,106,183,420 a change of -11.15%
18/04/2023 FTSE Closed at 7909 points. Change of 0.38%. Total value traded through LSE was: £ 4,621,350,278 a change of -3.08%
17/04/2023 FTSE Closed at 7879 points. Change of 0.1%. Total value traded through LSE was: £ 4,768,055,555 a change of -13.28%
14/04/2023 FTSE Closed at 7871 points. Change of 0.36%. Total value traded through LSE was: £ 5,498,351,712 a change of 11.26%
13/04/2023 FTSE Closed at 7843 points. Change of 0.24%. Total value traded through LSE was: £ 4,941,877,578 a change of -0.83%
12/04/2023 FTSE Closed at 7824 points. Change of -100%. Total value traded through LSE was: £ 4,983,460,119 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:BBY BALFOUR BEATTY** **LSE:EME Empyrean** **LSE:GLEN Glencore Xstra** **LSE:ITV ITV** **LSE:NWG Natwest** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : BALFOUR BEATTY, Empyrean, Glencore Xstra, ITV, Natwest, Taylor Wimpey,
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 378 Percentage Change: + 0.27% Day High: 385 Day Low: 377.2
Further movement against BALFOUR BEATTY ABOVE 385 should improve accelera ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:EME Empyrean Close Mid-Price: 0.98 Percentage Change: -7.70% Day High: 0 Day Low: 0
Weakness on Empyrean below 0.98 will invariably lead to 0.87 with seconda ……..
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View Previous Empyrean & Big Picture ***
LSE:GLEN Glencore Xstra. Close Mid-Price: 501.9 Percentage Change: + 1.53% Day High: 502.6 Day Low: 493.65
Continued trades against GLEN with a mid-price ABOVE 502.6 should improve ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:ITV ITV. Close Mid-Price: 80.98 Percentage Change: + 0.70% Day High: 82.18 Day Low: 80.12
Below 78 looks problematic, allowing reversal to an initial 72 with second ……..
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View Previous ITV & Big Picture ***
LSE:NWG Natwest Close Mid-Price: 273.5 Percentage Change: -0.07% Day High: 276.7 Day Low: 272.5
This now needs above just 278p to hopefully trigger movement to an initial ……..
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View Previous Natwest & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 121.4 Percentage Change: -1.34% Day High: 123.3 Day Low: 120.7
This now needs above 128 to suggest coming moves in the direction of 140p ……..
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View Previous Taylor Wimpey & Big Picture ***