This second full week of work for the FTSE has proven less than interesting. Aside from a single movement at the open on Wednesday, the FTSE 100 generally is making fewer movements than our temperature gauge here in Argyll. And therein lies a story, a week without a boiler and -14c has proven “interesting”. The lounge and adjacent bedroom has been quite happy, due to an incredibly hungry wood burning stove. The rest of the house has struggled, an oil filled electric heater heroically failing to do much with the office. The secret weapon of an electric waistcoat (powered by a USB power bank) made evenings fairly tolerable and hopefully the engineer arrives on Friday with the magical part to get the boiler running again.
It was annoying to discover, via Google, complete burner assemblies were available for a few hundred pounds, a price which seems cheap after 4 days without on demand heat.
Oddly, the problem isn’t the fact it doesn’t work. It does, just it also fills the house with white noxious smoke and triggers all the emergency alarms, two of which we didn’t even know we had! Despite it being possible to reach behind the engineers bit of protective tape and turn the boiler on, just one attempt to “take the chill off” led us to decide freezing to death would be better.
Thankfully we shall remain forever grateful for the last minute discovery Air Source Heat Pumps don’t really work in Scotland. Below 5c and they turn into big consumers of electricity, this unfortunately being a fairly low bar here in Argyll. Our home has fantastic insulation but as most of winter is spent below 5c, the much hyped product was worth avoiding. The last straw was the owner of a company which makes the devices, going public and saying he wouldn’t recommend them in Scotland, due to excess electricity costs.
As for the FTSE, we’re a little uncomfortable as to its prospects. January is usually a little rubbish and given all the rubbish going on in the world currently, some hesitancy makes sense. This week has seen one of the more absurd statements from Government, saying interest rate reductions may prove slower, thanks to inflation rates from December. This, rather neatly, avoided admitting the real reason inflation rates were higher was entirely due to Government action by increasing duty during December on life’s good stuff (booze and tobacco). Meanwhile, those guilty are enjoying skiing in Davos and will doubtless return to the UK with their full duty free entitlement of cheap cigars, Silk Cut cigarettes and Johnny Walker Black Label. (There’s a fond memory here, my Mum returning from Barcelona in the 1960’s with my first flamenco guitar. She stuffed it full of Silk Cut, then instructed me to be a nuisance in the customs hall.)
Our expectation is for the FTSE to find its way down to 7384 points with any weakness below 7426 points. If triggered, the tightest stop is visually at 7475 points but realistically, if this triggers, we suspect the drop shall prove sharp. If this is indeed the markets cunning plan, should it open Friday below 7475 points and things are liable to go pear shaped. Overall, there’s a reasonable argument anticipating an eventual 7340 points to provide a trampoline movement.
Of course, there is always an alternate and less complex scenario. Above 7490 (and not with a spike in the opening second) should prove capable of a lift to a pitiful 7499 points. If bettered, our secondary works out at an exciting and unlikely, cycle to an eventual 7613 points.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:23:49PM | BRENT | 7868.3 | 7633 | 7532 | 7407 | 7755 | 7907 | 7984 | 8101 | 7857 | Success |
| 10:26:00PM | GOLD | 2022.92 | 2006 | 2003 | 1996 | 2015 | 2024 | 2026 | 2034 | 2013 | |
| 10:30:11PM | FTSE | 7476.7 | 7429 | 7409 | 7383 | 7454 | 7487 | 7497 | 7528 | 7446 | Success |
| 10:37:21PM | STOX50 | 4468.7 | 4441 | 4431 | 4416 | 4459 | 4476 | 4482 | 4485 | 4467 | Success |
| 10:40:50PM | GERMANY | 16607 | 16514 | 16490 | 16446 | 16574 | 16620 | 16646 | 16746 | 16550 | Success |
| 10:43:35PM | US500 | 4780.5 | 4740 | 4727 | 4707 | 4767 | 4788 | 4795 | 4822 | 4764 | Success |
| 10:45:52PM | DOW | 37471.8 | 37130 | 37015 | 36842 | 37297 | 37534 | 37545 | 37604 | 37417 | ‘cess |
| 11:18:23PM | NASDAQ | 16987.4 | 16714 | 16590 | 16454 | 16780 | 16998 | 17064 | 17136 | 16874 | Success |
| 11:21:17PM | JAPAN | 36071 | 35412 | 35137 | 34818 | 35626 | 36100 | 36435 | 36810 | 36001 | Success |
18/01/2024 FTSE Closed at 7459 points. Change of 0.17%. Total value traded through LSE was: £ 5,710,434,313 a change of 4.63%
17/01/2024 FTSE Closed at 7446 points. Change of -1.48%. Total value traded through LSE was: £ 5,457,663,350 a change of -3.81%
16/01/2024 FTSE Closed at 7558 points. Change of -0.47%. Total value traded through LSE was: £ 5,673,801,232 a change of 52.3%
15/01/2024 FTSE Closed at 7594 points. Change of -0.39%. Total value traded through LSE was: £ 3,725,366,941 a change of -35.31%
12/01/2024 FTSE Closed at 7624 points. Change of 0.63%. Total value traded through LSE was: £ 5,758,721,485 a change of -30.28%
11/01/2024 FTSE Closed at 7576 points. Change of -0.98%. Total value traded through LSE was: £ 8,259,450,269 a change of 68.77%
10/01/2024 FTSE Closed at 7651 points. Change of -0.42%. Total value traded through LSE was: £ 4,893,879,848 a change of -19.09% 
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:DGE Diageo** **LSE:IHG Intercontinental Hotels Group** **LSE:IPF International Personal Finance** **LSE:SDY Speedyhire** **
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Updated charts published on : Diageo, Intercontinental Hotels Group, International Personal Finance, Speedyhire,
LSE:DGE Diageo Close Mid-Price: 2732.5 Percentage Change: -0.60% Day High: 2745 Day Low: 2712
Continued weakness against DGE taking the price below 2712 calculates as ……..
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View Previous Diageo & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 7344 Percentage Change: + 2.31% Day High: 7324 Day Low: 7164
In the event of Intercontinental Hotels Group enjoying further trades bey ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:IPF International Personal Finance. Close Mid-Price: 115 Percentage Change: + 0.00% Day High: 115 Day Low: 112
Below 111.5 looks problematic, allowing for reversals to an initial 100p. ……..
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View Previous International Personal Finance & Big Picture ***
LSE:SDY Speedyhire Close Mid-Price: 33.05 Percentage Change: -1.20% Day High: 34.1 Day Low: 33
Now above just 35p should trigger price gains to an initial 38.8 with seco ……..
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View Previous Speedyhire & Big Picture ***