#FTSE #Nasdaq It was clearly party time for the FTSE on Thursday as the index, finally, managed to close a session above the Blue downtrend line on the chart. We’ve been prattling on about how important this trend may be and now, with the index opting to close a session at 7628.26 points, it has exceeded the line, currently roughly around 7609.176 points. Not only did the market close above this level, it also closed above the prior high of 7628.1 points.
Obviously, happy days are here again. Unless they are not… Usually, when an upward break such as this occurs, if the market wishes to reverse the wishes of the market (yup, makes little sense) the next day experiences a price being gapped down, once again trading below a price level the market intends to avoid! In this instance, our inclination is to anticipate some gains on the FTSE for Friday. Hopefully the world or politicians don’t invent some reason to damage our gullible optimism. Who knows, perhaps the UK shall face a shortage of Factor 50 sunblock, over the winter!
For the immediate future, if we fall for the notorious notion the FTSE is due some gains, above 7633 should hopefully point the market in the direction of an initial 7691 points. Our longer term (or later that day!) secondary calculates at 7740 points. From our perspective, there’s a lot of upward force been building, making the prospect of a surprise sharp rise in the UK index a strong possibility.
Should things intend melt like cheap icecream, the index now requires below 7574 to ring alarm tones, pointing at the potential of reversal to 7334 with secondary, if broken, at 7326 and a probable bottom. Currently, this scenario appears as likely as Spanish driver Alonso actually winning a Grand Prix, a difficulty for as long as other drivers also have cars. Needless to say, he’s racing on Sunday in the sometimes fragile Canadian race.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:08:48PM | BRENT | 73.67 | 72.97 | 71.79 | 74.3 | 75.42 | 75.96 | 74.26 | ‘cess | ||
| 9:11:15PM | GOLD | 1946.29 | 1939 | 1936 | 1951 | 1960 | 1963 | 1950 | Shambles | ||
| 9:14:31PM | FTSE | 7592.87 | 7574 | 7548 | 7606 | 7641 | 7655 | 7607 | Success | ||
| 9:55:54PM | STOX50 | 4390 | 4332 | 4315 | 4360 | 4390 | 4409 | 4364 | |||
| 9:59:39PM | GERMANY | 16263.04 | 16175 | 16127 | 16247 | 16339 | 16387 | 16235 | ‘cess | ||
| 10:03:50PM | US500 | 4331 | 4330 | 4305 | 4355 | 4392 | 4411 | 4365 | ‘cess | ||
| 10:07:11PM | DOW | 33703 | 33697 | 33643 | 33913 | 34060 | 34174 | 33864 | Success | ||
| 10:11:24PM | NASDAQ | 14839.6 | 14765 | 14653 | 15955 | 15051 | 15140 | 14920 | ‘cess | ||
| 10:13:33PM | JAPAN | 33638 | 33202 | 32988 | 33401 | 33660 | 33761 | 33436 |
15/06/2023 FTSE Closed at 7628 points. Change of 0.34%. Total value traded through LSE was: £ 6,752,443,780 a change of 5.35%
14/06/2023 FTSE Closed at 7602 points. Change of 0.11%. Total value traded through LSE was: £ 6,409,785,309 a change of 14.25%
13/06/2023 FTSE Closed at 7594 points. Change of 1.66%. Total value traded through LSE was: £ 5,610,301,636 a change of 24.77%
12/06/2023 FTSE Closed at 7470 points. Change of -1.22%. Total value traded through LSE was: £ 4,496,360,714 a change of 0.19%
9/06/2023 FTSE Closed at 7562 points. Change of -0.49%. Total value traded through LSE was: £ 4,487,952,425 a change of -12.07%
8/06/2023 FTSE Closed at 7599 points. Change of -0.33%. Total value traded through LSE was: £ 5,104,102,479 a change of 3.08%
7/06/2023 FTSE Closed at 7624 points. Change of -0.05%. Total value traded through LSE was: £ 4,951,636,659 a change of 0.85%
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:BME B & M** **LSE:CCL Carnival** **LSE:HIK Hikma** **LSE:PHP Primary Health** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Aston Martin, B & M, Carnival, Hikma, Primary Health, Taylor Wimpey,
LSE:AML Aston Martin. Close Mid-Price: 300 Percentage Change: + 0.47% Day High: 304 Day Low: 285.2
In the event of Aston Martin enjoying further trades beyond 304, the shar ……..
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LSE:BME B & M. Close Mid-Price: 549.4 Percentage Change: + 0.55% Day High: 550.2 Day Low: 544.4
B&M are my wifes guilty secret, always going to a particular store when ru ……..
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LSE:CCL Carnival. Close Mid-Price: 1099.5 Percentage Change: + 1.06% Day High: 1107.5 Day Low: 1072
In the event of Carnival enjoying further trades beyond 1107.5, the share ……..
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View Previous Carnival & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1925 Percentage Change: + 1.32% Day High: 1932.5 Day Low: 1899
Target met. All Hikma needs are mid-price trades ABOVE 1932.5 to improve ……..
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LSE:PHP Primary Health Close Mid-Price: 99.25 Percentage Change: -0.05% Day High: 100.1 Day Low: 98.3
Weakness on Primary Health below 98.3 will invariably lead to 92 next wit ……..
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LSE:TW. Taylor Wimpey Close Mid-Price: 109.35 Percentage Change: -0.91% Day High: 111.2 Day Low: 108.1
Continued weakness against TW. taking the price below 108.1 calculates as ……..
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View Previous Taylor Wimpey & Big Picture ***