#FreeFutures It often feels like the FTSE’s preferred stance is to nosedive, often without any valid reason. The media are perfectly capable of reporting this behaviour as; “Markets slide due to Interest Rate fears”, and then follow up with “Markets slide due to unchanged Interest Rates!” All things considered, there’s a growing inclination to suspect the days weather provides a better indicator than anything based on actual facts.
Logically (or at least from our version of logic), there’s a pretty good argument favouring the FTSE showing a positive day on Friday. On Thursday, when the index dipped down to 7490 points, it attained something we generally call a logical bottom, a point from which a rebound should occur. During the session, the market teased this level multiple times, hopefully giving the impression there was a broad awareness that things could become quite messy, if 7490 points broke. Such a calamity risks a sharp fall of yet another 120 points.
Glancing for confirmation at a local weather report for our part of Scotland concurs, the rain should allegedly stop in just 16 minutes and the temperature for Friday is a balmy 6c. There’s even a chance the winds shall be light, so it’s a day to look forward to and as a result, hopefully the market agrees and exhibits some recovery.
To dwell on the miserable scenario briefly, the immediate situation suggests below 7490 points threatens reversal to 7440 points initially with our secondary, should such a level break, calculating at an eventual bottom of 7372 points. If this scenario triggers, the tightest stop looks like 7540 points and, as always, if the trigger occurs in the opening seconds of trade, don’t trust it. It’s still the case when a spike downward at the open often is the precursor for movements in an entirely different direction.
However, something felts very contrived about Thursdays reversals. As a result, we are leaning toward optimism as above 7540 points should apparently trigger market recovery toward 7577 points. Our longer term secondary ambition is very tenuous at 7643 points but we fear our initial target shall experience some market turbulence. Essentially, beyond 7577 produces quite a range of conflicting ambitions and this sort of thing tends be the precursor for some stutters in any recovery cycle.
On the even brighter side, we are looking forward to the US Grand Prix this weekend, the track in Texas often capable of producing some real races. 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 |
| 10:18:13PM | BRENT | 9210 | 8976 | 8912 | 9090 | 9232 | 9258 | 9206 | ‘cess | ||
| 10:20:59PM | GOLD | 1973.99 | 1938 | 1929 | 1957 | 1978 | 1987 | 1946 | ‘cess | ||
| 10:23:30PM | FTSE | 7474.9 | 7469 | 7436 | 7530 | 7542 | 7570 | 7487 | Success | ||
| 10:26:49PM | STOX50 | 4056.4 | 4058 | 4044 | 4106 | 4102 | 4115 | 4080 | ‘cess | ||
| 10:29:38PM | GERMANY | 14938.6 | 14932 | 14851 | 15092 | 15103 | 15171 | 15013 | Success | ||
| 10:33:43PM | US500 | 4270.3 | 4266 | 4230 | 4287 | 4312 | 4326 | 4292 | ‘cess | ||
| 10:38:03PM | DOW | 33395 | 33360 | 33242 | 33512 | 33511 | 33528 | 33400 | ‘cess | ||
| 10:42:08PM | NASDAQ | 14742.5 | 14730 | 14604 | 14912 | 14912 | 14970 | 14821 | Success | ||
| 10:45:16PM | JAPAN | 31260 | 31249 | 31210 | 31376 | 31560 | 31675 | 31417 | ‘cess |
19/10/2023 FTSE Closed at 7499 points. Change of -1.17%. Total value traded through LSE was: £ 4,748,869,334 a change of -10.32%
18/10/2023 FTSE Closed at 7588 points. Change of -1.13%. Total value traded through LSE was: £ 5,295,187,819 a change of -4.89%
17/10/2023 FTSE Closed at 7675 points. Change of 0.59%. Total value traded through LSE was: £ 5,567,251,444 a change of 41.75%
16/10/2023 FTSE Closed at 7630 points. Change of 0.41%. Total value traded through LSE was: £ 3,927,547,887 a change of -11.37%
13/10/2023 FTSE Closed at 7599 points. Change of -0.59%. Total value traded through LSE was: £ 4,431,270,860 a change of -9.59%
12/10/2023 FTSE Closed at 7644 points. Change of 0.31%. Total value traded through LSE was: £ 4,901,572,931 a change of 12.56%
11/10/2023 FTSE Closed at 7620 points. Change of -0.1%. Total value traded through LSE was: £ 4,354,502,993 a change of -19.19%
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:BDEV Barrett Devs** **LSE:CCL Carnival** **LSE:EXPN Experian** **LSE:EZJ EasyJet** **LSE:HL. Hargreaves Lansdown** **LSE:IAG British Airways** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:SPX Spirax** **
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Updated charts published on : Barrett Devs, Carnival, Experian, EasyJet, Hargreaves Lansdown, British Airways, Oxford Instruments, Primary Health, Spirax,
LSE:BDEV Barrett Devs Close Mid-Price: 392.5 Percentage Change: -2.39% Day High: 401.4 Day Low: 392.7
Weakness on Barrett Devs below 392.7 will invariably lead to 389 followed ……..
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View Previous Barrett Devs & Big Picture ***
LSE:CCL Carnival Close Mid-Price: 850 Percentage Change: -2.92% Day High: 866 Day Low: 837.8
Target met. Continued weakness against CCL taking the price below 837.8 ca ……..
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View Previous Carnival & Big Picture ***
LSE:EXPN Experian Close Mid-Price: 2638 Percentage Change: -2.15% Day High: 2664 Day Low: 2613
Continued weakness against EXPN taking the price below 2613 calculates as ……..
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View Previous Experian & Big Picture ***
LSE:EZJ EasyJet Close Mid-Price: 364.4 Percentage Change: -2.72% Day High: 372.9 Day Low: 362.3
Continued weakness against EZJ taking the price below 362.3 calculates as ……..
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View Previous EasyJet & Big Picture ***
LSE:HL. Hargreaves Lansdown Close Mid-Price: 692.2 Percentage Change: -6.05% Day High: 714.4 Day Low: 693.2
Target met. Weakness on Hargreaves Lansdown below 693.2 will invariably l ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 141.8 Percentage Change: + 0.21% Day High: 142.6 Day Low: 139.85
If British Airways experiences continued weakness below 139.85, it will ……..
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View Previous British Airways & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 1874 Percentage Change: -0.43% Day High: 1902 Day Low: 1804
Continued weakness against OXIG taking the price below 1804 calculates as ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:PHP Primary Health Close Mid-Price: 87.05 Percentage Change: -2.52% Day High: 89.5 Day Low: 87.05
In the event Primary Health experiences weakness below 87.05 it calculate ……..
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View Previous Primary Health & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 8384 Percentage Change: + 2.39% Day High: 8448 Day Low: 8132
Weakness on Spirax below 8132 will invariably lead to 8068 with secondary ……..
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View Previous Spirax & Big Picture ***