FTSE for FRIDAY (FTSE:UKX), The AIM (FTSE:AXX) & FTSE250 (FTSE:MCX), the gang of rogues

#Gold #FTSE We’ve been getting extremely frustrated at the lack of real movement among FTSE 100 shares. A throwaway comment in the office, “better check the AIM and the FTSE250, because they may get attention while the FTSE is sleeping” proved, hopefully, a worthwhile exercise. Over the years, we’ve noticed this can often be the case and with many FTSE 100 components appearing to be awaiting “something”, the effort shall perhaps be justified.

 

Surprisingly, it’s the FTSE250 which currently holds out most hope for positive movements with movement above 19404 points calculating with the potential of a lift to a tame looking 19683 points. At this level, things start to get quite interesting. Market closure above 19683 works out with the potential of a lift to 20640 points, dumping the market into a region where a future 21064 calculates with quite strong 3rd level ambition. It’s difficult to ignore we’re proposing a scenario with an overall 10% lift potential for this market, so it’s perhaps going to be worthwhile keeping an eye on FTSE250 components. This index needs below 18000 points to risk spoiling the potential party in the future.

 

As for the AIM market, things are quite a bit less positive. There are, of course, potentials but unfortunately the index appears to be experiencing difficulty recovering from the thrashing it was given in 2022. It has at least recovered above the level of the Red uptrend break of 740 points, generally a pretty positive signal. Until such time the value actually recovers above Red, spending money on a Party Popper is liable to be misguided. Thankfully, very little work is required and now above 767 points should prove capable of a lift to an initial 787 points with secondary, if bettered, a more encouraging 825 points. This secondary level is a big deal, emplacing the AIM in a region where a long term cycle to 1110 points should prove possible.

If things intend go wrong for the AIM, below 700 points shall now suggest investing in running shoes!

 

Finally, the FTSE. So far this year, writing about the UK’s premier index has been about as exciting as writing about the UK’s retail banks.

Currently, the FTSE is supposed to be heading to an initial 7736 with secondary, if bettered, now at 7849 points. The only little problem has been a tendency for the market to retreat, every single time it looked on the verge of producing something positive. It’s certainly the case above 7690 should still make an effort to achieve these target levels but we’re wondering what other factors are at play, inhibiting any moves which would dare emulate other markets in the world.

Instead, our inclination is to fear the worst as weakness now below 7606 points suggests reversal to an initial 7569 points with secondary, if broken, at 7541 points. While neither reversal target embraces a huge number of points, the movements would be sufficient to maintain the FTSE in its favourite position, marching on the spot. If triggered, the tightest stop is wide around 7660 points.

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
8:46:06PM BRENT 7878.9 7854 7620 8046 8044 8107 7887 ‘cess
8:48:20PM GOLD 2054.97 2041 2036 2058 2067 2072 2057 Success
9:03:32PM FTSE 7647.3 7613 7596 7657 7680 7711 7640
9:40:46PM STOX50 4660.2 4613 4593 4649 4667 4688 4631 ‘cess
9:42:29PM GERMANY 16988 16786 16750 16872 17004 17062 16916 ‘cess
9:44:24PM US500 4930.8 4895 4881 4906 4932 4941 4898 ‘cess
9:46:46PM DOW 38495 38334 38272 38455 38520 38683 38375 Success
9:49:41PM NASDAQ 17500.5 17312 17228 17404 17518 17663 17322 ‘cess
9:53:20PM JAPAN 36290 36120 36054 36236 36310 36317 36216 Shambles

 

1/02/2024 FTSE Closed at 7622 points. Change of -0.1%. Total value traded through LSE was: £ 5,538,356,181 a change of -5.22%
31/01/2024 FTSE Closed at 7630 points. Change of -0.47%. Total value traded through LSE was: £ 5,843,417,633 a change of 22.29%
30/01/2024 FTSE Closed at 7666 points. Change of 0.45%. Total value traded through LSE was: £ 4,778,161,303 a change of -12.39%
29/01/2024 FTSE Closed at 7632 points. Change of -0.04%. Total value traded through LSE was: £ 5,453,884,268 a change of -16.87%
28/01/2024 FTSE Closed at 7635 points. Change of 1.41%. Total value traded through LSE was: £ 6,560,613,072 a change of 58.4%
25/01/2024 FTSE Closed at 7529 points. Change of 0.03%. Total value traded through LSE was: £ 4,141,889,174 a change of -12.43%
24/01/2024 FTSE Closed at 7527 points. Change of 0.55%. Total value traded through LSE was: £ 4,729,886,078 a change of -8.08%

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:BT.A British Telecom** **LSE:EXPN Experian** **LSE:EZJ EasyJet** **LSE:GKP Gulf Keystone** **LSE:MMAG Music Magpie** **LSE:OCDO Ocado Plc** **

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Updated charts published on : British Telecom, Experian, EasyJet, Gulf Keystone, Music Magpie, Ocado Plc,


LSE:BT.A British Telecom Close Mid-Price: 109 Percentage Change: -2.85% Day High: 118.75 Day Low: 109.2

If British Telecom experiences continued weakness below 109.2, it will in ……..

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LSE:EXPN Experian. Close Mid-Price: 3322 Percentage Change: + 0.79% Day High: 3329 Day Low: 3289

Continued trades against EXPN with a mid-price ABOVE 3329 should improve ……..

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LSE:EZJ EasyJet. Close Mid-Price: 558.8 Percentage Change: + 0.47% Day High: 570.4 Day Low: 553.6

Target met. Continued trades against EZJ with a mid-price ABOVE 570.4 sho ……..

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LSE:GKP Gulf Keystone Close Mid-Price: 102.1 Percentage Change: -2.76% Day High: 106.5 Day Low: 102.1

If Gulf Keystone experiences continued weakness below 102.1, it will inva ……..

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LSE:MMAG Music Magpie Close Mid-Price: 9 Percentage Change: -5.26% Day High: 9.5 Day Low: 8.5

Continued weakness against MMAG taking the price below 8.5 calculates as ……..

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LSE:OCDO Ocado Plc Close Mid-Price: 516.2 Percentage Change: -5.56% Day High: 543 Day Low: 515

In the event Ocado Plc experiences weakness below 515 it calculates with ……..

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*** End of “Updated Today” comments on shares

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