#FTSE #BrentCrude It looks like it isn’t just the markets where “The B Team” run things during August. Thursday had hot weather warnings, promising a clear, dry, sunny day. Of course it rained here in Argyll and elsewhere in the UK but, in fairness to the weather people, it wasn’t cold. In a similar fashion, the FTSE continues to behave with a lack of any real logic. During July, it often felt like the market was under instruction to revolve around the 7670 mark. And for August, this far it felt like 7560 was the desired pivot point for the month.
Of course, on Thursday, all bets were apparently off, the FTSE somehow managing to close the day at 7618 points. This might prove to be a simple human error, the team in charge of ensuring nothing actually happens making a little bit of a mistake. However, from mid-afternoon onward, the market had plenty of time to correct this faux pas yet didn’t, giving some hope the break upward may actually prove to be genuine.
Now above 7623 points has a fairly useful potential, suggesting coming useful gains to 7670 points (yes, last months pivot level) with our secondary, if beaten, calculating at a less likely future 7757 points. We’ve designated such an ambition as “less likely”, simply because it doesn’t make any visual sense and this sort of thing will often indicate turbulence between our initial target and any secondary hope. The tightest stop-loss looks fair at 7593 points! At least the Light Blue downtrend since 2018 appears to be no longer factoring in market movements, so hopefully we can safely delete it faster than a West Yorkshire Police tweet.
Our converse scenario for Friday risks triggering, should the market stumble below 7579 points as this risks promoting reversal to 7555 points initially with secondary, if broken, calculating at 7531 points and a probable bounce of some sort. Visually, reversal such as this will neatly tuck the FTSE back into its box, trading once again at the levels from the start of August.
Finally, on the bright side, it’s worth remembering we’re now only two weeks away from the next Grand Prix! 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 |
| 9:50:17PM | BRENT | 8614.3 | 8597 | 8526 | 8690 | 8787 | 8807 | 8693 | |||
| 9:52:29PM | GOLD | 1912.33 | 1911 | 1905 | 1917 | 1929 | 1932 | 1916 | |||
| 9:54:45PM | FTSE | 7586.5 | 7559 | 7536 | 7591 | 7622 | 7645 | 7572 | ‘cess | ||
| 9:58:08PM | STOX50 | 4363.5 | 4337 | 4304.5 | 4402 | 4420 | 4365 | Success | |||
| 10:01:23PM | GERMANY | 15939 | 15831 | 15764 | 15930 | 16065 | 16140 | 15912 | ‘cess | ||
| 10:03:40PM | US500 | 4470 | 4456 | 4435 | 4485 | 4485 | 4526 | 4465 | |||
| 10:15:31PM | DOW | 35185.5 | 35105 | 34908 | 35215 | 35578 | 35712 | 35300 | Success | ||
| 10:17:22PM | NASDAQ | 15147.5 | 15066 | 14974 | 15213 | 15370 | 15484 | 15227 | Success | ||
| 10:20:25PM | JAPAN | 32533 | 32483 | 32359 | 32611 | 32826 | 32918 | 32640 | Success |
10/08/2023 FTSE Closed at 7618 points. Change of 0.41%. Total value traded through LSE was: £ 4,083,887,572 a change of -13.93%
9/08/2023 FTSE Closed at 7587 points. Change of 0.8%. Total value traded through LSE was: £ 4,744,774,883 a change of 3.35%
8/08/2023 FTSE Closed at 7527 points. Change of -0.36%. Total value traded through LSE was: £ 4,591,181,240 a change of 31.12%
7/08/2023 FTSE Closed at 7554 points. Change of -0.13%. Total value traded through LSE was: £ 3,501,608,401 a change of -4.09%
4/08/2023 FTSE Closed at 7564 points. Change of 0.46%. Total value traded through LSE was: £ 3,650,960,164 a change of -42.72%
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%
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:CNA Centrica** **LSE:CPI Capita** **LSE:FRES Fresnillo** **LSE:GENL Genel** **LSE:HIK Hikma** **LSE:IHG Intercontinental Hotels Group** **LSE:TLW Tullow** **
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Updated charts published on : Centrica, Capita, Fresnillo, Genel, Hikma, Intercontinental Hotels Group, Tullow,
LSE:CNA Centrica. Close Mid-Price: 141.4 Percentage Change: + 1.76% Day High: 140.9 Day Low: 139.2
Further movement against Centrica ABOVE 140.9 should improve acceleration ……..
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View Previous Centrica & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 20.3 Percentage Change: + 3.94% Day High: 20.38 Day Low: 19.13
Weakness on Capita below 19.13 will invariably lead to16p with secondary ……..
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View Previous Capita & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 539.6 Percentage Change: -1.78% Day High: 558 Day Low: 534.8
In the event Fresnillo experiences weakness below 534.8 it calculates wit ……..
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View Previous Fresnillo & Big Picture ***
LSE:GENL Genel Close Mid-Price: 84.2 Percentage Change: -5.07% Day High: 91 Day Low: 84.2
If Genel experiences continued weakness below 84.2, it will invariably le ……..
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View Previous Genel & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 2200 Percentage Change: -0.23% Day High: 2222 Day Low: 2192
All Hikma needs are mid-price trades ABOVE 2222 to improve acceleration t ……..
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View Previous Hikma & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 6044 Percentage Change: + 1.85% Day High: 6098 Day Low: 5976
Target met. Continued trades against IHG with a mid-price ABOVE 6098 shou ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 36.54 Percentage Change: + 0.38% Day High: 37.74 Day Low: 35.5
Further movement against Tullow ABOVE 37.74 should improve acceleration t ……..
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View Previous Tullow & Big Picture ***