Our internationally popular FTSE for FRIDAY (FTSE:UKX)

#Gold #SP500 Our exercise, taking a glance at how things have gone since the pre-pandemic highs, dropped us into an interesting area of analysis. For instance, the FTSE is currently stalled, almost exactly at pre-pandemic levels. Whereas the DAX is 81% above levels when it all went wrong and the DOW is 75% higher. Even France is 80% higher that its level, prior to the artificial pandemic drop.

But what really surprises us to a degree is how the FTSE is behaving. It hit the level of the markets at the start of 2022 and this sort of thing will generally provoke some stutters, the markets rarely missing the chance to pretend a glass ceiling exists. The S&P500, when it ran into this illusory barrier back in 2020, it hesitated for almost four months before accelerating upward. Even France in 2021 hesitated for the entire month of March! But the FTSE has stuttered around the 7500 point level for a record breaking 25 months.

Australia is an unusual case, currently at 7615 points and 10% above its pre-pandemic level, managed to spend a couple of years wasting everyones time, pretending it was about to go up. Now, thankfully, the index has started to achieve some higher highs, making us suspect it has now entered a longer term cycle to an eventual 8300 points. But the UK continues to languish, failing to achieve any sort of lasting break upward. The situation now demands the index better 8047, the high in 2023, before we dare believe some proper growth is underway.

Actually, for the UK, the situation is far worse as there’s a problem which dates back to 2017. Visually, the FTSE has spent most of the last 7 years flapping around between roughly the 7000 and 8000 point levels, aside from the 2020 drop which appears to have been internationally agreed manipulation across all markets.

Near term for the FTSE, we’re not overwhelmed with optimism and instead suspect near term movements below 7593 shall provoke reversal to an initial 7567 points with secondary, if broken, at 7624 along with some hope for a rebound. If triggered, the tightest stop is almost suspicious at just 7620 points.

If the market intends behave itself, above 7620, ideally not with an upward spike in the opening seconds of trade, should place the market in a position where recovery to an initial 7665 works out as possible. Should such a level be exceeded, our secondary works out at 7689 points and possible hesitation. The market needs better 7725 to suggest a break through the Blue downtrend, potentially changing the rules and making 7757 a distinct possibility sometime in the future.

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
8:57:29PM BRENT 8162 7995 7944 8098 8177 8361 8010 Success
8:59:49PM GOLD 2032.72 2020 2012 2032 2038 2045 2028 Success
9:03:28PM FTSE 7612.6 7605 7585 7622 7654 7683 7624 ‘cess
9:08:20PM STOX50 4702.1 4677 4668 4700 4721 4742 4696 Success
9:10:26PM GERMANY 16967 16887 16863 16951 17030 17073 16980
9:41:02PM US500 4996.9 4968 4954 4990 5003 5015 4987
9:42:57PM DOW 38715.5 38539 38506 38650 38755 38836 38683
9:44:54PM NASDAQ 17780.2 17711 17679 17768 17817 17830 17770
9:47:29PM JAPAN 37120 36786 36672 36977 37152 37477 36934 Success
8/02/2024 FTSE Closed at 7595 points. Change of -0.43%. Total value traded through LSE was: £ 5,436,383,411 a change of -4.43%
7/02/2024 FTSE Closed at 7628 points. Change of -0.69%. Total value traded through LSE was: £ 5,688,534,403 a change of 1.67%
6/02/2024 FTSE Closed at 7681 points. Change of 0.91%. Total value traded through LSE was: £ 5,595,046,133 a change of -6.77%
5/02/2024 FTSE Closed at 7612 points. Change of -0.04%. Total value traded through LSE was: £ 6,001,091,520 a change of -6.39%
4/02/2024 FTSE Closed at 7615 points. Change of 0%. Total value traded through LSE was: £ 6,410,714,874 a change of 39.22%
2/02/2024 FTSE Closed at 7615 points. Change of -0.09%. Total value traded through LSE was: £ 4,604,656,485 a change of -16.86%
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%

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:AML Aston Martin** **LSE:AZN Astrazeneca** **LSE:FOXT Foxtons** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:IHG Intercontinental Hotels Group** **LSE:RR. Rolls Royce** **LSE:ZOO Zoo Digital** **

********

Updated charts published on : Aston Martin, Astrazeneca, Foxtons, Gulf Keystone, Glencore Xstra, Intercontinental Hotels Group, Rolls Royce, Zoo Digital,


LSE:AML Aston Martin Close Mid-Price: 172 Percentage Change: -1.15% Day High: 174.7 Day Low: 170

If Aston Martin experiences continued weakness below 170, it will invaria ……..

Subscribe for more

</p

View Previous Aston Martin & Big Picture ***


LSE:AZN Astrazeneca Close Mid-Price: 9823 Percentage Change: -6.36% Day High: 10490 Day Low: 9700

Target met. Weakness on Astrazeneca below 9700 will invariably lead to 96 ……..

Subscribe for more

</p

View Previous Astrazeneca & Big Picture ***


LSE:FOXT Foxtons. Close Mid-Price: 57.5 Percentage Change: + 1.95% Day High: 58 Day Low: 56.5

Target met. In the event of Foxtons enjoying further trades beyond 58, th ……..

Subscribe for more

</p

View Previous Foxtons & Big Picture ***


LSE:GKP Gulf Keystone Close Mid-Price: 97.9 Percentage Change: -1.61% Day High: 99 Day Low: 94.2

Target met. Continued weakness against GKP taking the price below 94.2 ca ……..

Subscribe for more

</p

View Previous Gulf Keystone & Big Picture ***


LSE:GLEN Glencore Xstra Close Mid-Price: 396.8 Percentage Change: -1.39% Day High: 404.7 Day Low: 396.25

Weakness on Glencore Xstra below 396.25 will invariably lead to 386p with ……..

Subscribe for more

</p

View Previous Glencore Xstra & Big Picture ***


LSE:IHG Intercontinental Hotels Group Close Mid-Price: 7634 Percentage Change: -0.10% Day High: 7734 Day Low: 7568

Continued trades against IHG with a mid-price ABOVE 7734 should improve t ……..

Subscribe for more

</p

View Previous Intercontinental Hotels Group & Big Picture ***


LSE:RR. Rolls Royce Close Mid-Price: 317.7 Percentage Change: -1.61% Day High: 325.2 Day Low: 316.6

In the event of Rolls Royce enjoying further trades beyond 325.2, the sha ……..

Subscribe for more

</p

View Previous Rolls Royce & Big Picture ***


LSE:ZOO Zoo Digital Close Mid-Price: 34 Percentage Change: -1.45% Day High: 34.5 Day Low: 33.75

Continued weakness against ZOO taking the price below 33.75 calculates as ……..

Subscribe for more

</p

View Previous Zoo Digital & Big Picture ***


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

This post has already been read 262 times!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.