#FTSE #GOLD It’s probably safe to say we dislike August more than any other month on the calendar. Firstly, the Formula 1 circus takes a holiday, thus ensuring weekends are spent doing DIY tasks without any adequate excuse to dodge them. Secondly, the first week or two generally brings monsoon conditions to the West of Scotland, where we’re based. And third, the markets become quite strange, sometimes volatile but generally capable of undoing the damage before the schools go back in England.
Our suspicion traditionally encompasses the nice, professional, folk who run things going away for the month and things are left in the hands of a bunch of interns. These people are simply told not to break anything and make sure everything is put back the way it was given. Thus, while the professionals are queuing at Tracy’s Full English Breakfast in Benidorm or Blackpool, things can go a little crazy on the markets. But in the absence of justified movement, either by world events or company news, things tend return to normal by the end of August.
In other words, it’s August and all bets for sanity are off the table!
The FTSE quickly reserved its place in the asylum this week, spending the first three days of the month falling off a cliff. Or did it?
From our perspective, the visit to 7437 points on Thursday was arithmetically interesting, almost exactly bouncing from our secondary drop target. If our cynical suspicion about August entering the realm of fake movements, we’d therefore hope for a bounce capable of continuing. This creates a situation where above 7527 points should aim for surprise recovery to an initial 7547 points with secondary, if beaten, at 7581 points.
This secondary level risks making the coming week fairly interesting as should the market exceed it, a recovery cycle to 7674 calculates as possible, effectively putting the FTSE back to where it was at the start of the month. Should our recovery criteria trigger, the tightest stop loss looks like a modest 7487 points.
Our alternate scenario, if everything intends stay wrong for a while longer allows for weakness below 7435 points to trigger reversal down to 7385 points initially with our secondary, if broken, down at 7337 points and hopefully a market bottom. By way of a teaser, we’ve shown on the chart our expectations, should 7337 break and it’s a hopeful bottom down at 7238 points.
Have a good weekend.
If we can get our tractor running, we’re going to experiment with timed laps of the lawn. (Only kidding, it’s truly frightening how small the garden becomes, when the tractor hits 13mph. Panic braking ensues as winching the thing out of the stream counts as an epic fail.)
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:12:56PM | BRENT | 8511.2 | 8218 | 8193 | 8062 | 8298 | 8590 | 8786 | 9338 | 8328 | |
| 10:16:08PM | GOLD | 1933.69 | 1932 | 1930 | 1916 | 1939 | 1972 | 2017 | 2058 | 1954 | |
| 10:18:56PM | FTSE | 7536.9 | 7437 | 7310 | 7172 | 7553 | 7563 | 7611 | 7669 | 7528 | Success |
| 10:22:22PM | STOX50 | 4312.5 | 4275 | 4269 | 4195 | 4313 | 4330 | 4353 | 4379 | 4304 | ‘cess |
| 10:24:33PM | GERMANY | 15904 | 15800 | 15765 | 15701 | 15894 | 16018 | 16079 | 16172 | 15951 | ‘cess |
| 10:27:54PM | US500 | 4503.7 | 4482 | 4463 | 4441 | 4524 | 4523 | 4539 | 4557 | 4499 | ‘cess |
| 10:30:55PM | DOW | 35227.5 | 35112 | 35068 | 34973 | 35216 | 35351 | 35466 | 35584 | 35231 | ‘cess |
| 10:33:23PM | NASDAQ | 15361.3 | 15247 | 15174 | 15077 | 15335 | 15465 | 15487 | 15567 | 15077 | ‘cess |
| 10:36:26PM | JAPAN | 31913 | 31675 | 31517 | 30861 | 31862 | 32376 | 32611 | 32923 | 32096 | Success |
3/08/2023 FTSE Closed at 7529 points. Change of -0.42%. Total value traded through LSE was: £ 6,373,701,191 a change of 36.1%
2/08/2023 FTSE Closed at 7561 points. Change of -1.38%. Total value traded through LSE was: £ 4,683,211,781 a change of 12.76%
1/08/2023 FTSE Closed at 7667 points. Change of -0.42%. Total value traded through LSE was: £ 4,153,367,086 a change of -3.72%
31/07/2023 FTSE Closed at 7699 points. Change of 0.06%. Total value traded through LSE was: £ 4,313,676,670 a change of -54.58%
28/07/2023 FTSE Closed at 7694 points. Change of 0.03%. Total value traded through LSE was: £ 9,496,592,538 a change of 26.18%
27/07/2023 FTSE Closed at 7692 points. Change of 0.21%. Total value traded through LSE was: £ 7,526,466,026 a change of 81.26%
26/07/2023 FTSE Closed at 7676 points. Change of -0.2%. Total value traded through LSE was: £ 4,152,321,908 a change of -7.74%
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:BT.A British Telecom** **LSE:FRES Fresnillo** **LSE:GENL Genel** **LSE:HIK Hikma** **LSE:IPF International Personal Finance** **LSE:NG. National Glib** **LSE:SPT Spirent Comms** **LSE:TLW Tullow** **
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Updated charts published on : Asos, British Telecom, Fresnillo, Genel, Hikma, International Personal Finance, National Glib, Spirent Comms, Tullow,
LSE:ASC Asos. Close Mid-Price: 423.7 Percentage Change: + 0.38% Day High: 437.7 Day Low: 410.8
Continued trades against ASC with a mid-price ABOVE 437.7 should improve ……..
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View Previous Asos & Big Picture ***
LSE:BT.A British Telecom Close Mid-Price: 113.95 Percentage Change: -4.20% Day High: 115 Day Low: 111.8
Target met. Continued weakness against BT.A taking the price below 111.8 ……..
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View Previous British Telecom & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 558.2 Percentage Change: -4.09% Day High: 573.6 Day Low: 555
If Fresnillo experiences continued weakness below 555, it will invariably ……..
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View Previous Fresnillo & Big Picture ***
LSE:GENL Genel Close Mid-Price: 97.8 Percentage Change: -2.98% Day High: 100.8 Day Low: 95
In the event Genel experiences weakness below 95 it calculates with a dro ……..
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View Previous Genel & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 2060 Percentage Change: -0.72% Day High: 2164 Day Low: 2042
In the event of Hikma enjoying further trades beyond 2164, the share shou ……..
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View Previous Hikma & Big Picture ***
LSE:IPF International Personal Finance Close Mid-Price: 122.5 Percentage Change: -2.00% Day High: 126 Day Low: 123.5
Continued trades against IPF with a mid-price ABOVE 126 should improve th ……..
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View Previous International Personal Finance & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 972.6 Percentage Change: -2.33% Day High: 991.8 Day Low: 970.6
If National Glib experiences continued weakness below 970.6, it will inva ……..
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View Previous National Glib & Big Picture ***
LSE:SPT Spirent Comms. Close Mid-Price: 153.1 Percentage Change: + 0.66% Day High: 156.2 Day Low: 148.4
Continued weakness against SPT taking the price below 148.4 calculates as ……..
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View Previous Spirent Comms & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 34.72 Percentage Change: + 2.12% Day High: 35.28 Day Low: 32.82
In the event of Tullow enjoying further trades beyond 35.28, the share sh ……..
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View Previous Tullow & Big Picture ***