#FTSE #S&P500 We’d speculated of a “B” team being in charge of the markets during August, due to everyone going on holiday. If this is indeed the case, ‘they’ve’ got just four trading sessions left to return the FTSE to the 7700 level, quite a big ask given it closed Thursday at 7333 points. We certainly found it curious the market broke the uptrend since 2020, suddenly exhibiting recovery thereafter to regain this important trend.
Surprisingly, the degree of recovery shows nothing of panic and now, with Red at roughly 7312.563 points, very little work is required to push things once again over the edge, movement below now threatening reversal to an initial 7251 points. Should such a level break, our secondary calculates at 7095 points and a probable bounce. Should 7312 break, triggering such a reversal cycle, any stop loss can be reasonably tight as the index only needs above 7333 points to rubbish any reversal potentials!
Near term, if the market intends indulge in some frenzied recovery, above 7386 works out with the potential of a lift to 7461 points. If exceeded, our secondary suggests itself at 7487 points and a challenge against the immediate Blue downtrend since the start of August.
Due to market behaviour in Europe and North America, we’ve some doubt as to whether the FTSE shall prove capable of bucking the trend. With Wall St looking at risk of losing a further 300 points from its current level, amazingly exactly the same loss of points risk looks possible for Germany.
There’s a silver lining behind all this misery. Not only is it a holiday weekend but Formula 1 also returns on Sunday with the Dutch grand prix. Perhaps the organisers could make it interesting this year by insisting drivers compete wearing wooden clogs. 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 |
| 10:14:07PM | BRENT | 8268.3 | 8161 | 8131 | 8269 | 8295 | 8362 | 8240 | |||
| 10:16:32PM | GOLD | 1916.46 | 1911 | 1909 | 1917 | 1922 | 1926 | 1915 | |||
| 10:19:46PM | FTSE | 7313.6 | 7300 | 7281 | 7330 | 7363 | 7366 | 7331 | |||
| 10:22:37PM | STOX50 | 4211.7 | 4206 | 4186 | 4239 | 4239 | 4247 | 4215 | ‘cess | ||
| 10:25:40PM | GERMANY | 15557.9 | 15535 | 15494 | 15606 | 15780 | 15824 | 15670 | Success | ||
| 10:28:32PM | US500 | 4373.6 | 4366 | 4347 | 4397 | 4414 | 4420 | 4394 | Shambles | ||
| 10:32:03PM | DOW | 34109.5 | 34065 | 34028 | 34255 | 34308 | 34334 | 34197 | Success | ||
| 10:35:04PM | NASDAQ | 14787.5 | 14773 | 14683 | 14924 | 14994 | 15079 | 14904 | |||
| 10:37:32PM | JAPAN | 31705 | 31680 | 31632 | 31774 | 31867 | 31927 | 31767 | Success |
24/08/2023 FTSE Closed at 7333 points. Change of 0.18%. Total value traded through LSE was: £ 4,124,022,746 a change of -11.8%
23/08/2023 FTSE Closed at 7320 points. Change of 0.69%. Total value traded through LSE was: £ 4,675,646,982 a change of 18.86%
22/08/2023 FTSE Closed at 7270 points. Change of 0.18%. Total value traded through LSE was: £ 3,933,596,955 a change of 1.59%
21/08/2023 FTSE Closed at 7257 points. Change of -0.07%. Total value traded through LSE was: £ 3,872,219,406 a change of -12.04%
18/08/2023 FTSE Closed at 7262 points. Change of -0.66%. Total value traded through LSE was: £ 4,402,136,865 a change of 33.13%
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%
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:AV. Aviva** **LSE:GRG Greggs** **LSE:IQE IQE** **LSE:QED Quadrise** **
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Updated charts published on : Aviva, Greggs, IQE, Quadrise,
LSE:AV. Aviva Close Mid-Price: 370.8 Percentage Change: -2.57% Day High: 375.5 Day Low: 370.3
Target met. Continued weakness against AV. taking the price below 370.3 c ……..
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View Previous Aviva & Big Picture ***
LSE:GRG Greggs Close Mid-Price: 2404 Percentage Change: -0.58% Day High: 2446 Day Low: 2384
In the event Greggs experiences weakness below 2384 it calculates with a ……..
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View Previous Greggs & Big Picture ***
LSE:IQE IQE Close Mid-Price: 17 Percentage Change: -3.30% Day High: 18 Day Low: 16.96
Target met. Weakness on IQE below 16.96 will invariably lead to 15p with ……..
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View Previous IQE & Big Picture ***
LSE:QED Quadrise Close Mid-Price: 0.88 Percentage Change: -18.90% Day High: 1 Day Low: 0.7
Target met. Continued weakness against QED taking the price below 0.7 cal ……..
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View Previous Quadrise & Big Picture ***