#FTSE #GOLD Market behaviour against a trend can prove interesting. For instance, the FTSE appears to be bouncing just above the immediate RED uptrend which, at time of writing, lurks at 7437.463 points. With the index hitting 7446 points and then rebounding, the given implication is one of strength but experience has taught the opposite can be true. Essentially, just as a break of a trend can serve as a warning, equally an effort to avoid a trend also provides a warning for potential trouble.
Quite why this is the case defeats us but it happens sufficiently often for us to refer to “the market reacting to a trend from afar”. Generally, when this nonsense occurs in the presence of a downtrend, it invariably is a precursor to a sharp, often spectacular, upward movement.
Unfortunately, in this instance, the movement has occurred above an uptrend and as a result, we suspect the worst is ahead.
However, from a near term perspective, things don’t look terribly dire and now above just 7509 points should trigger market recovery to an initial 7545 points with secondary, if exceeded, calculating at 7587 points. Neither ambition appears capable of recovering the FTSE into visual safety, above BLUE at 7640 points presently. If this triggers, the tightest stop loss looks like 7470 points.
Our alternate scenario allows for weakness below 7437 to trigger reversal down to 7329 points with secondary, if broken, at 7218 points. Surprisingly, in this situation, the stop loss level looks absurdly tight given the drop potentials, working out at 7470 points.
Have a good weekend. Hopefully the Barcelona Grand Prix turns out as enjoyable as Monaco, something we never thought we’d write! But Monaco was pretty rubbish for over 1/2 the race, then was saved by some rain.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:56:16PM | BRENT | 74.37 | 71.23 | 70.32 | 73.03 | 75.21 | 76.05 | 74 | ‘cess | ||
| 9:58:29PM | GOLD | 1977.86 | 1953 | 1946 | 1967 | 1983 | 1986 | 1971 | Success | ||
| 10:00:10PM | FTSE | 7507.8 | 7439 | 7430 | 7484 | 7508 | 7526 | 7488 | |||
| 10:01:59PM | STOX50 | 4271.1 | 4213 | 4198 | 4243 | 4277 | 4304 | 4247 | |||
| 10:04:29PM | GERMANY | 15892 | 15695 | 15643 | 15767 | 15902 | 15976 | 15824 | |||
| 10:06:44PM | US500 | 4225.47 | 4171 | 4149 | 4197 | 4233 | 4244 | 4212 | Shambles | ||
| 10:08:58PM | DOW | 33098.4 | 32678 | 32610 | 32859 | 33161 | 33178 | 33008 | Shambles | ||
| 10:10:54PM | NASDAQ | 14473.8 | 14217 | 14116 | 14307 | 14500 | 14539 | 14402 | ‘cess | ||
| 10:20:08PM | JAPAN | 31386 | 31083 | 31030 | 31264 | 31431 | 31452 | 31317 | Success |
1/06/2023 FTSE Closed at 7490 points. Change of 0.59%. Total value traded through LSE was: £ 5,105,968,663 a change of -64.14%
31/05/2023 FTSE Closed at 7446 points. Change of -1.01%. Total value traded through LSE was: £ 14,237,190,282 a change of 154.29%
30/05/2023 FTSE Closed at 7522 points. Change of -1.38%. Total value traded through LSE was: £ 5,598,786,913 a change of 22.18%
26/05/2023 FTSE Closed at 7627 points. Change of 0.75%. Total value traded through LSE was: £ 4,582,588,809 a change of -1.57%
25/05/2023 FTSE Closed at 7570 points. Change of -0.75%. Total value traded through LSE was: £ 4,655,843,667 a change of -31.38%
24/05/2023 FTSE Closed at 7627 points. Change of -1.74%. Total value traded through LSE was: £ 6,784,933,914 a change of 44.14%
23/05/2023 FTSE Closed at 7762 points. Change of -100%. Total value traded through LSE was: £ 4,707,065,644 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:ASC Asos** **LSE:AVCT Avacta** **LSE:DGE Diageo** **LSE:IGAS Igas Energy** **LSE:JET Just Eat** **LSE:MMAG Music Magpie** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **LSE:PHP Primary Health** **LSE:VOD Vodafone** **LSE:ZOO Zoo Digital** **
********
Updated charts published on : Asos, Avacta, Diageo, Igas Energy, Just Eat, Music Magpie, National Glib, Natwest, Ocado Plc, Primary Health, Vodafone, Zoo Digital,
LSE:ASC Asos Close Mid-Price: 342 Percentage Change: -0.38% Day High: 346.9 Day Low: 332
If Asos experiences continued weakness below 332, it will invariably lead ……..
</p
View Previous Asos & Big Picture ***
LSE:AVCT Avacta Close Mid-Price: 104 Percentage Change: -3.70% Day High: 108.5 Day Low: 103.5
Continued weakness against AVCT taking the price below 103.5 calculates a ……..
</p
View Previous Avacta & Big Picture ***
LSE:DGE Diageo Close Mid-Price: 3344.5 Percentage Change: -0.07% Day High: 3365 Day Low: 3326.5
Target met. In the event Diageo experiences weakness below 3326.5 it calc ……..
</p
View Previous Diageo & Big Picture ***
LSE:IGAS Igas Energy. Close Mid-Price: 15.18 Percentage Change: + 5.27% Day High: 15.04 Day Low: 14.5
If Igas Energy experiences continued weakness below 14.5, it will invaria ……..
</p
View Previous Igas Energy & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1166 Percentage Change: -3.56% Day High: 1220 Day Low: 1158
Target met. In the event Just Eat experiences weakness below 1158 it calc ……..
</p
View Previous Just Eat & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 17.25 Percentage Change: -1.43% Day High: 17.5 Day Low: 16.75
Weakness on Music Magpie below 16.75 will invariably lead to 14.5 with se ……..
</p
View Previous Music Magpie & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 1055.5 Percentage Change: -4.57% Day High: 1067 Day Low: 1049.5
Target met. If National Glib experiences continued weakness below 1049.5, ……..
</p
View Previous National Glib & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 263.4 Percentage Change: + 1.46% Day High: 264.8 Day Low: 258.2
In the event Natwest experiences weakness below 258.2 it calculates with ……..
</p
View Previous Natwest & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 352.4 Percentage Change: -4.50% Day High: 377.4 Day Low: 349.9
Target met. Continued weakness against OCDO taking the price below 349.9 ……..
</p
View Previous Ocado Plc & Big Picture ***
LSE:PHP Primary Health. Close Mid-Price: 100.5 Percentage Change: + 0.80% Day High: 104.6 Day Low: 98.7
In the event Primary Health experiences weakness below 98.7 it calculates ……..
</p
View Previous Primary Health & Big Picture ***
LSE:VOD Vodafone Close Mid-Price: 76.13 Percentage Change: -0.31% Day High: 76.92 Day Low: 75.69
If Vodafone experiences continued weakness below 75.69, it will invariabl ……..
</p
View Previous Vodafone & Big Picture ***
LSE:ZOO Zoo Digital Close Mid-Price: 123 Percentage Change: -0.81% Day High: 126 Day Low: 122
Continued weakness against ZOO taking the price below 122 calculates as l ……..
</p
View Previous Zoo Digital & Big Picture ***