#FTSE #GOLD There’s a funny thing about the UK, a facet of the countries nature which maybe dates back to the 1970’s and continues to this day. A country with fuel shortages, food shortages, strikes everywhere, opted to accept power cuts, just to add icing on the cake and increase the overall misery. It was apparently called the winter of discontent but the sentiment seems to continue. News of the UK officially entering recession, obviously not a surprise as the BoE caused it, made it a perfect time for a corporate success story like Close Brothers to be forced to announce they are scrapping their dividend. This due to potential action by “The City Watchdog” regarding car finance. Their share price, already low, suffered yet another kicking as the people who suffer are shareholders, a breed the city doesn’t seem to care about!
We constantly carp about how poorly the FTSE performs, when compared with other major markets. Surely part of the reason must be self flagellation as it seems clear since the financial crisis, there’s nothing the media and politicians appear to like more than a feeding frenzy against an invented enemy. And Close Brothers, employing 3,700 staff will be almost certain to announce job losses as they next fight to maintain profit levels. There surely must be a better way of managing such situations rather than what’s being employed. The UK is certainly a country which likes to kick itself, while it’s down.
When we previously reviewed Close Brothers, we laid out criteria for reversal to 445p, a target level which has become in footnote in history. When we glance at what’s been happening during January and February this year, it’s impossible to point to a movement and say “That was the 445p day!”, the price reversing faster than a Ferrari F1 driver, when he sees the end of the race approaching. This failure to spot the “445p” moment is quite unusual as usually, a falling knife will acknowledge a target level. Even if we switch to viewing minute by minute price changes, any attempt to define such a thing is fanciful at best.
The implication of such behaviour is we’ve maybe been watching entirely the wrong trend. This being the case, about the best we can now suggest is for weakness below 278p proving capable of triggering further reversals to 190p and a very possible cease in travel. We’re far from confident we can propose a solid bounce from the 190p level but our secondary calculation of 88p almost looks too silly to believe. But Close Brothers are currently trading at a level not seen since 1996.
As for the FTSE for FRIDAY, this week has been difficult, leading to a suspicion the FTSE, when it closes for the day at 16.30, returns to a Lunatic Asylum. By most standards, the markets have been horrible, which when paired with reduced volumes on the FTSE, makes us surprised to express some optimism for the near future. Currently, above 7613 calculates with the potential of a lame lift to an initial 7633 points with our secondary, if bettered, at 7722 and an escape from the current drop zone. If triggered,. our tightest stop loss looks like 7562 points.
Our converse scenario threatens weakness below 7562 as being capable of provoking reversal to an initial 7526 points with our longer term secondary, if broken, working out at 7509 points.
Have a good weekend. Only 2 weeks until the first F1 race of 2024
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 8:43:45PM | BRENT | 8255 | 8220 | 8201 | 8270 | 8294 | 8364 | 8220 | Sorry | ||
| 9:08:02PM | GOLD | 2004.48 | 1985 | 1975 | 1996 | 2009 | 2014 | 1999 | Success | ||
| 9:11:08PM | FTSE | 7626 | 7561 | 7539 | 7591 | 7633 | 7640 | 7597 | |||
| 9:13:51PM | STOX50 | 4760.4 | 4720 | 4701 | 4747 | 4765 | 4777 | 4749 | ‘cess | ||
| 9:16:09PM | GERMANY | 17106.7 | 16967 | 16910 | 17069 | 17116 | 17154 | 17005 | Success | ||
| 9:18:07PM | US500 | 5032.9 | 4998 | 4993 | 5015 | 5035 | 5047 | 5005 | ‘cess | ||
| 9:20:29PM | DOW | 38762 | 38431 | 38297 | 38611 | 38779 | 39107 | 38603 | Success | ||
| 9:22:39PM | NASDAQ | 17889.1 | 17717 | 17674 | 17817 | 17902 | 18082 | 17770 | ‘cess | ||
| 9:25:04PM | JAPAN | 38636 | 37940 | 37721 | 38280 | 38657 | 38803 | 38264 | Success |
15/02/2024 FTSE Closed at 7597 points. Change of 0.38%. Total value traded through LSE was: £ 4,212,176,049 a change of -10.97%
14/02/2024 FTSE Closed at 7568 points. Change of 0.75%. Total value traded through LSE was: £ 4,731,346,457 a change of -6.79%
13/02/2024 FTSE Closed at 7512 points. Change of -0.81%. Total value traded through LSE was: £ 5,075,825,719 a change of 6.46%
12/02/2024 FTSE Closed at 7573 points. Change of 0.01%. Total value traded through LSE was: £ 4,767,866,668 a change of -14.99%
9/02/2024 FTSE Closed at 7572 points. Change of -0.3%. Total value traded through LSE was: £ 5,608,670,910 a change of 3.17%
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% 
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:EXPN Experian** **LSE:GRG Greggs** **LSE:HIK Hikma** **LSE:HL. Hargreaves Lansdown** **LSE:IHG Intercontinental Hotels Group** **LSE:JET Just Eat** **LSE:QED Quadrise** **LSE:ZOO Zoo Digital** **
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Updated charts published on : Experian, Greggs, Hikma, Intercontinental Hotels Group, Just Eat, Quadrise, Zoo Digital,
LSE:EXPN Experian Close Mid-Price: 3355 Percentage Change: -0.12% Day High: 3420 Day Low: 3357
Target met. Continued trades against EXPN with a mid-price ABOVE 3420 sho ……..
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View Previous Experian & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2752 Percentage Change: + 0.81% Day High: 2760 Day Low: 2742
Continued trades against GRG with a mid-price ABOVE 2760 should improve t ……..
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View Previous Greggs & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1987 Percentage Change: + 1.12% Day High: 2000 Day Low: 1957
In the event of Hikma enjoying further trades beyond 2000, the share shou ……..
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View Previous Hikma & Big Picture ***
LSE:HL. Hargreaves Lansdown. Close Mid-Price: 834 Percentage Change: + 0.39% Day High: 845.2 Day Low: 828.8
All Hargreaves Lansdown needs are mid-price trades ABOVE 845.2 to improve ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 7682 Percentage Change: + 0.55% Day High: 7764 Day Low: 7658
Target met. All Intercontinental Hotels Group needs are mid-price trades ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:JET Just Eat. Close Mid-Price: 1328 Percentage Change: + 2.00% Day High: 1366 Day Low: 1324
In the event of Just Eat enjoying further trades beyond 1366, the share s ……..
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View Previous Just Eat & Big Picture ***
LSE:QED Quadrise Close Mid-Price: 2.13 Percentage Change: -6.56% Day High: 2.21 Day Low: 2.1
Target met. Continued weakness against QED taking the price below 2.1 cal ……..
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View Previous Quadrise & Big Picture ***
LSE:ZOO Zoo Digital Close Mid-Price: 29.75 Percentage Change: -8.46% Day High: 32.5 Day Low: 29.75
If Zoo Digital experiences continued weakness below 29.75, it will invari ……..
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View Previous Zoo Digital & Big Picture ***