#FTSE #GOLD The weather has been causing problems with the markets. Or perhaps not, it just seems everything else is being blamed! Currently, the FTSE is exhibiting a strange series of movements we’re more inclined to assign to tightly controlled AIM shares. In the absence of a catchy phrase, we call this “Reacting to a trend from afar”. Whatever that means!
When a share price follows a trend, without actually disturbing it, generally this suggests the potential of any trend break provoking sharp movement. In the case of the FTSE, the chart below has a circled area, one which shows 5 intraday highs from London somehow deciding to mirror the immediate Blue downtrend. We’ve speculated quite often on just why this phenomena may occur but remain clueless as to any answer which isn’t ridiculous. However, there is one feature from this sort of thing as it’s often the case any future break of the trend will produce very sharp movements. In this instance, the “threat” is a break of the downtrend should provoke sharp upward movements, rather than a namby-pamby half hearted trip across a trend line.
In the case of the FTSE currently, if we choose to assign similar motivation to that which we suspect for AIM shares, the implications are quite extraordinary as, from a Big Picture viewpoint, we’re supposed to suggest moves next above just 7500 should kick off a cycle to 7637 next with secondary, if bettered, at 7800 points. While this is all very interesting and encouraging, our intention on a Friday is to produce one or two potentials which shall hopefully occur in the very near future.
For the FTSE, the near term suggestion is of strength bettering 7465 points triggering share price recovery toward an initial 7525 points. If bettered, our secondary calculates at 7595 points. If triggered, the tightest stop looks quite palatable at just 7425 points. Oddly, either one of these movements is allegedly capable of booting our Big Picture scenario into life…
Our converse scenario, demands the index slither below 7390 to move into a region where a reversal cycle down to 7307 becomes possible with our secondary, if broken, working out at a visually possible 7229 points.
In summary, we’re just not sure which direction the market intends. It’s certainly getting very close to the point where a rush upward will make a lot of sense but the level of tight control in relation to that trend line bothers us.
Have a good weekend, even with a lack of Grand Prix.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:59:25PM | BRENT | 8953 | 8922 | 8908 | 8848 | 8972 | 8991 | 9015 | 9046 | 8958 | |
| 10:01:45PM | GOLD | 1919.3 | 1915 | 1912 | 1909 | 1920 | 1923 | 1926 | 1929 | 1918 | |
| 10:04:02PM | FTSE | 7443 | 7412 | 7396 | 7374 | 7447 | 7462 | 7478 | 7510 | 7430 | ‘cess |
| 10:07:07PM | STOX50 | 4225.1 | 4208 | 4201 | 4184 | 4228 | 4245 | 4256 | 4272 | 4224 | |
| 10:14:38PM | GERMANY | 15734 | 15653 | 15625 | 15568 | 15730 | 15796 | 15841 | 15903 | 15714 | |
| 10:17:10PM | US500 | 4452.5 | 4440 | 4425 | 4387 | 4460 | 4464 | 4474 | 4489 | 4446 | |
| 10:19:42PM | DOW | 34517 | 34338 | 34307 | 34222 | 34419 | 34563 | 34603 | 34708 | 34477 | |
| 10:22:49PM | NASDAQ | 15268 | 14967 | 14879 | 14747 | 15077 | 15369 | 15415 | 15507 | 15286 | ‘cess |
| 10:28:18PM | JAPAN | 32896 | 32769 | 32619 | 32383 | 32896 | 33290 | 33405 | 33617 | 33160 |
7/09/2023 FTSE Closed at 7441 points. Change of 0.2%. Total value traded through LSE was: £ 4,377,889,513 a change of 26.38%
6/09/2023 FTSE Closed at 7426 points. Change of -0.15%. Total value traded through LSE was: £ 3,464,082,337 a change of -12.27%
5/09/2023 FTSE Closed at 7437 points. Change of -0.2%. Total value traded through LSE was: £ 3,948,449,247 a change of 27.07%
4/09/2023 FTSE Closed at 7452 points. Change of -0.16%. Total value traded through LSE was: £ 3,107,267,145 a change of -28.59%
1/09/2023 FTSE Closed at 7464 points. Change of 0.34%. Total value traded through LSE was: £ 4,351,126,417 a change of -43.85%
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 -100%. Total value traded through LSE was: £ 3,785,593,396 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:AAL Anglo American** **LSE:CNA Centrica** **LSE:HL. Hargreaves Lansdown** **LSE:IQE IQE** **LSE:JET Just Eat** **LSE:LLOY Lloyds Grp.** **LSE:SPT Spirent Comms** **
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Updated charts published on : Anglo American, Centrica, Hargreaves Lansdown, IQE, Just Eat, Lloyds Grp., Spirent Comms,
LSE:AAL Anglo American Close Mid-Price: 2025.5 Percentage Change: -2.90% Day High: 2064 Day Low: 2015
Weakness on Anglo American below 2015 will invariably lead to 1975 with s ……..
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View Previous Anglo American & Big Picture ***
LSE:CNA Centrica. Close Mid-Price: 159.3 Percentage Change: + 2.08% Day High: 159.45 Day Low: 154.9
Target met. Continued trades against CNA with a mid-price ABOVE 159.45 sh ……..
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View Previous Centrica & Big Picture ***
LSE:HL. Hargreaves Lansdown Close Mid-Price: 736 Percentage Change: -0.70% Day High: 740.8 Day Low: 728.2
If Hargreaves Lansdown experiences continued weakness below 728.2, it wil ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IQE IQE Close Mid-Price: 16.74 Percentage Change: -1.53% Day High: 17.24 Day Low: 16.58
Weakness on IQE below 16.58 will invariably lead to 15p with secondary (i ……..
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View Previous IQE & Big Picture ***
LSE:JET Just Eat Close Mid-Price: 1003 Percentage Change: -2.62% Day High: 1021 Day Low: 995.5
If Just Eat experiences continued weakness below 995.5, it will invariabl ……..
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View Previous Just Eat & Big Picture ***
LSE:LLOY Lloyds Grp. Close Mid-Price: 41.03 Percentage Change: -1.12% Day High: 41.55 Day Low: 41.09
Weakness on Lloyds Grp. below 41.09 will invariably lead to 40.48 with se ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:SPT Spirent Comms Close Mid-Price: 144.7 Percentage Change: -2.69% Day High: 148.8 Day Low: 144.4
Target met. In the event Spirent Comms experiences weakness below 144.4 i ……..
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View Previous Spirent Comms & Big Picture ***