#FTSE #Gold The most recent 5 sessions have been quite foul, the FTSE almost behaving as if the summer holiday temps working at the LSE have lost control. While we’re being a little sarcastic, it’s certainly curious Thursday managed to close the day at 7,310 points. It’s curious, ‘cos the Red uptrend since March 2020 calculates at roughly 7,308.678 points, sufficiently close to the actual closing price to emanate a little scent.
If ‘the market’ is indeed paying attention to this Red uptrend, the implication from such precise behaviour is to anticipate a bounce on the FTSE, working on the basis the summertime temps have been told not to break Red on the chart. Or maybe it’s just the case the market is exhibiting its renowned sense of humour?
The immediate test, one hopefully able to ‘prove’ whether Red is valid or not, allows for weakness below 7305 points triggering reversal to 7279 points next. Our secondary, if such a level breaks, calculates at 7243 points and a level which should hopefully provoke a bounce. However, it’s crucial to mention we shall regard the overall attraction as now coming from 7077 points, if this scenario starts to play out. If triggered, the tightest stop loss looks like 7355 points.
Our alternate scenario, if our suspicion of a bounce comes to fruition, suggests above 7355 as ideally capable of a stab at an initial 7398 points. If exceeded, our secondary works out at 7422 points. Without a doubt, the FTSE feels like it’s at one of these “fingers crossed” moments. Hopefully all the politicians continue to avoid appearing in front of TV cameras.
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 |
| 9:17:26PM | BRENT | 8345.7 | 8264 | 8081 | 8365 | 8451 | 8489 | 8361 | |||
| 9:20:30PM | GOLD | 1888.82 | 1884 | 1871 | 1896 | 1898 | 1901 | 1887 | |||
| 9:24:19PM | FTSE | 7272.6 | 7269 | 7263 | 7316 | 7324 | 7337 | 7292 | ‘cess | ||
| 9:29:52PM | STOX50 | 4204.9 | 4202 | 4197 | 4234 | 4236 | 4248 | 4212 | Success | ||
| 9:32:17PM | GERMANY | 15600.1 | 15591 | 15555 | 15697 | 15714 | 15747 | 15650 | ‘cess | ||
| 9:42:29PM | US500 | 4365.1 | 4363 | 4349 | 4412 | 4421 | 4436 | 4393 | |||
| 9:47:52PM | DOW | 34452.5 | 34438 | 34376 | 34501 | 34560 | 34585 | 34493 | ‘cess | ||
| 9:52:27PM | NASDAQ | 14686.3 | 14684 | 14603 | 14750 | 14949 | 14998 | 14840 | Success | ||
| 9:55:01PM | JAPAN | 31355 | 31301 | 31110 | 31457 | 31681 | 31779 | 31550 | ‘cess |
17/08/2023 FTSE Closed at 7310 points. Change of -0.63%. Total value traded through LSE was: £ 3,306,539,758 a change of -30.86%
16/08/2023 FTSE Closed at 7356 points. Change of -0.45%. Total value traded through LSE was: £ 4,782,194,827 a change of 34.91%
15/08/2023 FTSE Closed at 7389 points. Change of -1.57%. Total value traded through LSE was: £ 3,544,639,764 a change of -13.22%
14/08/2023 FTSE Closed at 7507 points. Change of -0.23%. Total value traded through LSE was: £ 4,084,432,990 a change of -33.31%
11/08/2023 FTSE Closed at 7524 points. Change of -1.23%. Total value traded through LSE was: £ 6,124,601,431 a change of 49.97%
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%
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:CEY Centamin** **LSE:CPI Capita** **LSE:EMG MAN** **LSE:EXPN Experian** **LSE:EZJ EasyJet** **LSE:FRES Fresnillo** **LSE:GENL Genel** **LSE:IQE IQE** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:OXIG Oxford Instruments** **
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Updated charts published on : Centamin, Capita, MAN, Experian, EasyJet, Fresnillo, Genel, IQE, Marks and Spencer, National Glib, Oxford Instruments,
LSE:CEY Centamin Close Mid-Price: 84.95 Percentage Change: -2.36% Day High: 86.35 Day Low: 84.9
If Centamin experiences continued weakness below 84.9, it will invariably ……..
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View Previous Centamin & Big Picture ***
LSE:CPI Capita Close Mid-Price: 18.92 Percentage Change: -1.20% Day High: 19.53 Day Low: 18.83
In the event Capita experiences weakness below 18.83 it calculates with a ……..
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View Previous Capita & Big Picture ***
LSE:EMG MAN Close Mid-Price: 208 Percentage Change: -1.19% Day High: 210.3 Day Low: 207.4
If MAN experiences continued weakness below 207.4, it will invariably lea ……..
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View Previous MAN & Big Picture ***
LSE:EXPN Experian Close Mid-Price: 2712 Percentage Change: -1.95% Day High: 2756 Day Low: 2709
Weakness on Experian below 2709 will invariably lead to 2681 with seconda ……..
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View Previous Experian & Big Picture ***
LSE:EZJ EasyJet Close Mid-Price: 431.7 Percentage Change: -2.18% Day High: 441.6 Day Low: 431.8
Continued weakness against EZJ taking the price below 431.8 calculates as ……..
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View Previous EasyJet & Big Picture ***
LSE:FRES Fresnillo Close Mid-Price: 512.8 Percentage Change: -0.16% Day High: 515.8 Day Low: 505
Weakness on Fresnillo below 505 will invariably lead to 501p with seconda ……..
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View Previous Fresnillo & Big Picture ***
LSE:GENL Genel Close Mid-Price: 78.8 Percentage Change: -2.23% Day High: 80.4 Day Low: 78.5
In the event Genel experiences weakness below 78.5 it calculates with a d ……..
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View Previous Genel & Big Picture ***
LSE:IQE IQE Close Mid-Price: 17.94 Percentage Change: -3.03% Day High: 18.64 Day Low: 17.82
If IQE experiences continued weakness below 17.82, it will invariably lea ……..
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View Previous IQE & Big Picture ***
LSE:MKS Marks and Spencer Close Mid-Price: 225.8 Percentage Change: -2.50% Day High: 233.4 Day Low: 226.4
In the event of Marks and Spencer enjoying further trades beyond 233.4, t ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:NG. National Glib Close Mid-Price: 946.4 Percentage Change: -0.98% Day High: 955.4 Day Low: 944.2
Target met. Weakness on National Glib below 944.2 will invariably lead to ……..
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View Previous National Glib & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 2225 Percentage Change: -0.67% Day High: 2335 Day Low: 2140
Target met. In the event Oxford Instruments experiences weakness below 21 ……..
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View Previous Oxford Instruments & Big Picture ***