#FTSE #GOLD We’ve spent the last few days suspecting the FTSE should celebrate the start of September with some market gains. Unfortunately, it’s starting to feel as smart as villagers in Pompeii celebrating while Vesuvius erupts, not realising they’ve just volunteered to become future archaeological exhibits. However, maybe the 1st September isn’t actually the start of September as those vacationing for August will not start drifting back to work until Monday 4th.
This being the case, the market has today (Friday) to continue to undo the damage done to the FTSE during August though, we most emphatically do not expect a 200 point surge to the 7700 level. However, it is possible to present a scenario where some near term useful recovery can be hoped.
Near term, above just 7501 points should trigger a gain toward a pretty tame 7526 points. Our secondary, should such a level be exceeded, calculates at a useful 7578 points. Surprisingly, if we go by the visual impression, the market could allegedly continue acceleration toward 7628 points eventually, effectively erasing the damage inflicted during August. Should this upward break appear (not with an opening second spike upward!) the tightest stop loss level looks like a reasonable 7465 points.
Of course, now we’ve given a reason for optimism, we can point out a different scenario, thanks to the behaviour of the FTSE this week. While the index has managed to exceed the August downtrend with intraday highs, rather a lot of care has been taken to ensure no trend break was confirmed allowing the price to close a session above Blue on the chart. In what feels unlikely, below 7440 points threatens reversal to 7410 points with secondary, if broken, working out at a potentially messy 7338 points. For now, we’re a little sceptical about this scenario and tend expect immediate market gains.
Have a good weekend, hopefully with some decent weather to enjoy the Grand Prix.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:04:44PM | BRENT | 86.72 | 84.99 | 84.53 | 85.46 | 86.78 | 87.18 | 85.54 | Success | ||
| 10:08:18PM | GOLD | 1939.71 | 1938 | 1927 | 1945 | 1948 | 1956 | 1937 | |||
| 10:10:43PM | FTSE | 7430 | 7418 | 7406 | 7450 | 7504 | 7513 | 7460 | Success | ||
| 10:12:59PM | STOX50 | 4295 | 4284 | 4279 | 4314 | 4331 | 4351 | 4304 | |||
| 10:15:50PM | GERMANY | 15948.6 | 15896 | 15848 | 15962 | 15993 | 16046 | 15914 | ‘cess | ||
| 10:18:06PM | US500 | 4509.9 | 4506 | 4495 | 4522 | 4531 | 4555 | 4513 | |||
| 10:20:28PM | DOW | 34754 | 34721 | 34647 | 34870 | 34921 | 34945 | 34803 | Shambles | ||
| 10:22:47PM | NASDAQ | 15505.4 | 15421 | 15389 | 15506 | 15572 | 15657 | 15436 | ‘cess | ||
| 10:25:03PM | JAPAN | 32494 | 32386 | 32348 | 32513 | 32565 | 32701 | 32430 | Success |
31/08/2023 FTSE Closed at 7439 points. Change of -0.45%. Total value traded through LSE was: £ 7,748,715,745 a change of 104.69%
30/08/2023 FTSE Closed at 7473 points. Change of 0.11%. Total value traded through LSE was: £ 3,785,593,396 a change of -59.43%
29/08/2023 FTSE Closed at 7465 points. Change of 1.73%. Total value traded through LSE was: £ 9,331,622,622 a change of 194.32%
25/08/2023 FTSE Closed at 7338 points. Change of 0.07%. Total value traded through LSE was: £ 3,170,549,348 a change of -23.12%
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 -100%. Total value traded through LSE was: £ 3,933,596,955 a change of 0%
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:BLOE Block Energy PLC** **LSE:CBX Cellular Goods** **LSE:CNA Centrica** **LSE:JET Just Eat** **LSE:ODX Omega Diags** **LSE:RBD Reabold Resources PLC** **LSE:RKH Rockhopper** **LSE:RR. Rolls Royce** **LSE:SPX Spirax** **LSE:TERN Tern Plc** **LSE:TSCO Tesco** **
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Updated charts published on : Asos, Block Energy PLC, Cellular Goods, Centrica, Just Eat, Omega Diags, Reabold Resources PLC, Rockhopper, Rolls Royce, Spirax, Tern Plc, Tesco,
LSE:ASC Asos. Close Mid-Price: 438.4 Percentage Change: + 8.35% Day High: 461.5 Day Low: 402.1
In the event of Asos enjoying further trades beyond 461.5, the share shou ……..
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View Previous Asos & Big Picture ***
LSE:BLOE Block Energy PLC. Close Mid-Price: 1.4 Percentage Change: + 3.70% Day High: 1.43 Day Low: 1.4
All Block Energy PLC needs are mid-price trades ABOVE 1.43 to improve acc ……..
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View Previous Block Energy PLC & Big Picture ***
LSE:CBX Cellular Goods Close Mid-Price: 0.57 Percentage Change: -4.17% Day High: 0.6 Day Low: 0.57
If Cellular Goods experiences continued weakness below 0.57, it will inva ……..
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View Previous Cellular Goods & Big Picture ***
LSE:CNA Centrica. Close Mid-Price: 151.75 Percentage Change: + 1.17% Day High: 151.5 Day Low: 150.35
Continued trades against CNA with a mid-price ABOVE 151.5 should improve ……..
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View Previous Centrica & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1108 Percentage Change: + 4.04% Day High: 1157 Day Low: 1042
Continued weakness against JET taking the price below 1042 calculates as ……..
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View Previous Just Eat & Big Picture ***
LSE:ODX Omega Diags Close Mid-Price: 2.05 Percentage Change: -10.87% Day High: 2.3 Day Low: 2.05
If Omega Diags experiences continued weakness below 2.05, it will invaria ……..
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View Previous Omega Diags & Big Picture ***
LSE:RBD Reabold Resources PLC Close Mid-Price: 0.09 Percentage Change: -5.13% Day High: 0.1 Day Low: 0.09
In the event Reabold Resources PLC experiences weakness below 0.09 it cal ……..
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View Previous Reabold Resources PLC & Big Picture ***
LSE:RKH Rockhopper Close Mid-Price: 11.4 Percentage Change: -2.15% Day High: 11.8 Day Low: 11.45
If Rockhopper experiences continued weakness below 11.45, it will invaria ……..
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View Previous Rockhopper & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 222.3 Percentage Change: + 2.54% Day High: 224.1 Day Low: 216.3
Target met. All Rolls Royce needs are mid-price trades ABOVE 224.1 to imp ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 10135 Percentage Change: + 0.70% Day High: 10205 Day Low: 10095
Further movement against Spirax ABOVE 10205 should improve acceleration t ……..
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View Previous Spirax & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 4.25 Percentage Change: -15.00% Day High: 4.5 Day Low: 4.12
Weakness on Tern Plc below 4.12 will invariably lead to 3.5 with secondar ……..
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View Previous Tern Plc & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 265.7 Percentage Change: + 0.57% Day High: 267.7 Day Low: 264.9
Continued trades against TSCO with a mid-price ABOVE 267.7 should improve ……..
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View Previous Tesco & Big Picture ***