#FTSE #Gold A story in the FT worth paying attention to was the news corporate bankruptcies in the US are expected to reach their highest level since 2010, while in the UK and Europe, things have already hit the fan with insolvencies at a record high for the period since 2009. Unsurprisingly, the problem is being blamed on interest rates and over the next few years, things are not expected to improve.
Surely this issue is liable to effect the markets, both with an increased loss of confidence in “things” along with increased unemployment as companies eat themselves alive, trying to cope with the affect of predatory interest rates. This is almost certainly due to governments proving sufficiently gullible to believe central banks, telling them interest rates deal with inflation. The concept of banks controlling what’s best for banks is something which truly escapes us, more dangerous than the police investigating themselves or politicians doing similar. Perhaps, if reviewing bank profits, the true beneficiaries of bank interest rates become obvious. After all, while it has become fashionable to shave the preface “bank” away from the term interest rates, the harsh reality of the damage being done is shown by the increase in business bankruptcy, along with the increase in the bottom line for banks. Or in plain English, we’re not hopeful at what the markets hold for 2024, due to an excess number of shares hitting reversal triggers.
Who knows, maybe Santa will bring some relief…
Our inclination is to take the circled area on the chart as an ‘early warning signal’ for trouble ahead, essentially expecting any future break below Red to provoke sharp and severe reversals. Currently, this level is at 7368.873 points, a number and trend confirmed by the FTSE low on Thursday at 7367.21 points. But for now, it looks like Friday is supposed to be a day with some further recovery on the FTSE.
Now above just 7466 points (it closed Thursday at 7455) allows for market gains continuing to an initial 7500 points, doubtless with some inevitable hesitation as traders assume any nice solid number like 7500 shall be imbued with mystical properties. Our secondary, should such a level be exceeded, calculates up at 7550 points and very probable real hesitation. If triggered, our tightest stop is at 7407 points but, to be fair, it’s possible 7422 shall suffice.
Our alternate scenario, if a tumble into a pool of sharks is planned, allows weakness below 7422 to bring a visit down to an initial 7399 points with our secondary, if broken, at 7347 and no certainty of a rebound as the index shall find itself with a toe in the pool full of sharks!
Despite the entertainment emptiness, facing a weekend without Formula 1, have a good break. Here, we’ve noticed road gritters out tonight, covering local roads TWICE. Maybe the grass is indeed at the end of the cutting season, depriving the need to spend time on my little red, single seater, tractor.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:58:54PM | BRENT | 79.8 | 79.27 | 78.14 | 80.28 | 81.69 | 82.42 | 80.6 | |||
| 10:02:07PM | GOLD | 1957.42 | 1944 | 1926 | 1965 | 1968 | 1975 | 1948 | Success | ||
| 10:04:26PM | FTSE | 7429 | 7365 | 7349 | 7418 | 7465 | 7482 | 7418 | Shambles | ||
| 10:06:36PM | STOX50 | 4210.3 | 4171 | 4148 | 4159 | 4235 | 4247 | 4200 | ‘cess | ||
| 10:15:55PM | GERMANY | 15284 | 15195 | 15137 | 15256 | 15343 | 15375 | 15264 | Success | ||
| 10:18:01PM | US500 | 4350 | 4343 | 4327 | 4364 | 4399 | 4424 | 4359 | ‘cess | ||
| 10:20:53PM | DOW | 33915.7 | 33839 | 33779 | 34026 | 34223 | 34256 | 34078 | ‘cess | ||
| 10:25:08PM | NASDAQ | 15192 | 15220 | 15132 | 15285 | 15356 | 15410 | 15274 | Shambles | ||
| 10:27:01PM | JAPAN | 32523 | 32497 | 32345 | 32736 | 32879 | 32965 | 32645 |
9/11/2023 FTSE Closed at 7455 points. Change of 0.73%. Total value traded through LSE was: £ 4,890,859,412 a change of -30.52%
8/11/2023 FTSE Closed at 7401 points. Change of -0.12%. Total value traded through LSE was: £ 7,039,129,505 a change of 60.87%
7/11/2023 FTSE Closed at 7410 points. Change of -0.09%. Total value traded through LSE was: £ 4,375,663,657 a change of 7.72%
6/11/2023 FTSE Closed at 7417 points. Change of 0%. Total value traded through LSE was: £ 4,062,204,136 a change of -15.12%
3/11/2023 FTSE Closed at 7417 points. Change of -0.39%. Total value traded through LSE was: £ 4,785,653,725 a change of -23.42%
2/11/2023 FTSE Closed at 7446 points. Change of 1.42%. Total value traded through LSE was: £ 6,249,429,649 a change of 34.92%
1/11/2023 FTSE Closed at 7342 points. Change of 0.29%. Total value traded through LSE was: £ 4,632,018,053 a change of -20.08%
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:AZN Astrazeneca** **LSE:BDEV Barrett Devs** **LSE:CPI Capita** **LSE:GRG Greggs** **LSE:IAG British Airways** **LSE:ITM ITM Power** **LSE:JET Just Eat** **LSE:SCLP Scancell** **LSE:SPT Spirent Comms** **
********
Updated charts published on : Astrazeneca, Barrett Devs, Capita, Greggs, British Airways, ITM Power, Just Eat, Scancell, Spirent Comms,
LSE:AZN Astrazeneca. Close Mid-Price: 10436 Percentage Change: + 2.62% Day High: 10600 Day Low: 10274
Further movement against Astrazeneca ABOVE 10600 should improve accelerat ……..
</p
View Previous Astrazeneca & Big Picture ***
LSE:BDEV Barrett Devs. Close Mid-Price: 457.4 Percentage Change: + 2.01% Day High: 458 Day Low: 446.2
Target met. In the event of Barrett Devs enjoying further trades beyond 4 ……..
</p
View Previous Barrett Devs & Big Picture ***
LSE:CPI Capita. Close Mid-Price: 18.32 Percentage Change: + 2.23% Day High: 18.49 Day Low: 17.85
In the event of Capita enjoying further trades beyond 18.49, the share sh ……..
</p
View Previous Capita & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2546 Percentage Change: + 0.47% Day High: 2570 Day Low: 2520
All Greggs needs are mid-price trades ABOVE 2570 to improve acceleration ……..
</p
View Previous Greggs & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 154.5 Percentage Change: + 1.15% Day High: 154.8 Day Low: 151.7
In the event of British Airways enjoying further trades beyond 154.8, th ……..
</p
View Previous British Airways & Big Picture ***
LSE:ITM ITM Power Close Mid-Price: 61.86 Percentage Change: -0.19% Day High: 63 Day Low: 61
Weakness on ITM Power below 61 will invariably lead to 60p with secondary ……..
</p
View Previous ITM Power & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1143 Percentage Change: + 2.51% Day High: 1147 Day Low: 1101
Target met. All Just Eat needs are mid-price trades ABOVE 1147 to improve ……..
</p
View Previous Just Eat & Big Picture ***
LSE:SCLP Scancell Close Mid-Price: 11.88 Percentage Change: -1.04% Day High: 12 Day Low: 11.5
If Scancell experiences continued weakness below 11.5, it will invariably ……..
</p
View Previous Scancell & Big Picture ***
LSE:SPT Spirent Comms. Close Mid-Price: 104 Percentage Change: + 5.26% Day High: 104.5 Day Low: 99.5
Further movement against Spirent Comms ABOVE 104.5 should improve acceler ……..
</p
View Previous Spirent Comms & Big Picture ***