#FTSE #GOLD From our perspective, the FTSE has now managed to get itself into a bit of a mess. Closing the session on Thursday at 7280 points, the index achieved a successful “lower low” but only, if we take a particular stance. Back on 20th March, the index hit 7206 points but closed the session at an amazing 7403 points. This creates a somewhat ambiguous “lower low” argument but experience has taught the closing price invariably proves the most important argument, especially when coupled with a price closing below a trend.
In the case of the FTSE charts below, the uptrend (Red) since the Covid-19 low of 2020 has not yet been troubled, so we shouldn’t embrace panic. Currently, the FTSE needs close a session below 7215 to solidly break Red, moving the index into a region where a future bottom around 6623 points shall make painful sense.
In summary, we appear to be witnessing a fairly coherent warning shot for future trouble for the index.
But, as always, there’s reason for hope.
There’s a pretty strong argument expecting a bounce by the 7200 level, the FTSE already pretty close to a calculated “bottom” within the immediate cycle which works out at 7206 points. This should prove viable, if the UK market weakens below 7267 points.
Absurdly, the index now needs above 7303 points to suggest any near term bottom may be viable as this should trigger market recovery to an initial 7360 with secondary, if beaten, calculating at an impressive 7494 points. It’s difficult to express any reasoning to suggest such a massive gain shall prove possible in just a single session.
Crucially, it’s the British Grand Prix this weekend from Silverstone. Hopefully it rains as this should make for a reasonable spectacle but ideally, nothing like the monsoon conditions currently affecting us in Argyll. Traditionally, the start of August brings biblical levels of rain but tonight, the roar from our garden waterfall is proving quite distracting.
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 |
| 9:16:09PM | BRENT | 7648 | 7499 | 7453 | 7563 | 7667 | 7698 | 7606 | |||
| 9:18:27PM | GOLD | 1909.82 | 1906 | 1901 | 1913 | 1914 | 1917 | 1908 | Success | ||
| 9:22:47PM | FTSE | 7283.7 | 7266 | 7232 | 7326 | 7313 | 7319 | 7280 | Ditto | ||
| 9:42:44PM | STOX50 | 4226.6 | 4211 | 4197 | 4252 | 4252 | 4265 | 4226 | Ditto | ||
| 9:45:41PM | GERMANY | 15536.1 | 15492 | 15457 | 15566 | 15635 | 15660 | 15546 | Ditto | ||
| 9:47:58PM | US500 | 4410.1 | 4385 | 4368 | 4412 | 4417 | 4424 | 4405 | Ditto | ||
| 9:50:38PM | DOW | 33915.5 | 33768 | 33705 | 33955 | 34192 | 34226 | 33930 | Ditto | ||
| 9:58:46PM | NASDAQ | 15074 | 14970 | 14873 | 15060 | 15147 | 15177 | 15100 | Exact | ||
| 10:00:42PM | JAPAN | 32394 | 32245 | 32199 | 32464 | 32748 | 32941 | 32600 | Success |
6/07/2023 FTSE Closed at 7280 points. Change of -2.18%. Total value traded through LSE was: £ 5,570,653,867 a change of 7.74%
5/07/2023 FTSE Closed at 7442 points. Change of -1.02%. Total value traded through LSE was: £ 5,170,439,166 a change of 50.69%
4/07/2023 FTSE Closed at 7519 points. Change of -0.11%. Total value traded through LSE was: £ 3,431,263,448 a change of -36.49%
3/07/2023 FTSE Closed at 7527 points. Change of -0.05%. Total value traded through LSE was: £ 5,402,403,715 a change of 3.4%
30/06/2023 FTSE Closed at 7531 points. Change of 0.8%. Total value traded through LSE was: £ 5,224,612,707 a change of -11.43%
29/06/2023 FTSE Closed at 7471 points. Change of -0.39%. Total value traded through LSE was: £ 5,898,729,234 a change of 13.7%
28/06/2023 FTSE Closed at 7500 points. Change of 0.52%. Total value traded through LSE was: £ 5,188,003,612 a change of 2.29% 
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:AFC AFC Energy** **LSE:AV. Aviva** **LSE:BBY BALFOUR BEATTY** **LSE:BDEV Barrett Devs** **LSE:BT.A British Telecom** **LSE:FGP Firstgroup** **LSE:IGG IG Group** **LSE:ITV ITV** **LSE:NG. National Glib** **LSE:RBD Reabold Resources PLC** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : AFC Energy, Aviva, BALFOUR BEATTY, Barrett Devs, British Telecom, Firstgroup, IG Group, ITV, National Glib, Reabold Resources PLC, Taylor Wimpey,
LSE:AFC AFC Energy Close Mid-Price: 12.02 Percentage Change: -4.91% Day High: 12.78 Day Low: 11.78
Target met. If AFC Energy experiences continued weakness below 11.78, it ……..
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View Previous AFC Energy & Big Picture ***
LSE:AV. Aviva Close Mid-Price: 381.6 Percentage Change: -2.13% Day High: 387.6 Day Low: 380.1
In the event Aviva experiences weakness below 380.1 it calculates with a ……..
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View Previous Aviva & Big Picture ***
LSE:BBY BALFOUR BEATTY Close Mid-Price: 331.4 Percentage Change: -3.27% Day High: 346 Day Low: 330.6
Weakness on BALFOUR BEATTY below 330.6 will invariably lead to 318 with s ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:BDEV Barrett Devs Close Mid-Price: 401 Percentage Change: -3.14% Day High: 412.1 Day Low: 400.9
In the event Barrett Devs experiences weakness below 400.9 it calculates ……..
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View Previous Barrett Devs & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 121.5 Percentage Change: -2.06% Day High: 124.35 Day Low: 120.9
Target met. If British Telecom experiences continued weakness below 120.9 ……..
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View Previous British Telecom & Big Picture ***
LSE:FGP Firstgroup Close Mid-Price: 144.7 Percentage Change: -0.55% Day High: 149.1 Day Low: 144.3
In the event of Firstgroup enjoying further trades beyond 149.1, the shar ……..
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View Previous Firstgroup & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 632.5 Percentage Change: -3.07% Day High: 650.5 Day Low: 638
Target met. If IG Group experiences continued weakness below 638, it will ……..
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View Previous IG Group & Big Picture ***
LSE:ITV ITV Close Mid-Price: 65.46 Percentage Change: -3.74% Day High: 67.96 Day Low: 65.56
Continued weakness against ITV taking the price below 65.56 calculates as ……..
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View Previous ITV & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 1020 Percentage Change: -0.73% Day High: 1035 Day Low: 1012.5
Weakness on National Glib below 1012.5 will invariably lead to 1003 with ……..
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View Previous National Glib & Big Picture ***
LSE:RBD Reabold Resources PLC Close Mid-Price: 0.11 Percentage Change: -6.52% Day High: 0.12 Day Low: 0.1
Continued weakness against RBD taking the price below 0.1 calculates as l ……..
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View Previous Reabold Resources PLC & Big Picture ***
LSE:TW. Taylor Wimpey Close Mid-Price: 99.7 Percentage Change: -2.40% Day High: 102 Day Low: 99.26
If Taylor Wimpey experiences continued weakness below 99.26, it will inva ……..
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View Previous Taylor Wimpey & Big Picture ***