#WallSt #FTSE The UK index has almost achieved the unthinkable, needing only to close above 8015 to move the index into the realms of “new all time highs”. What’s annoying are the number of FTSE 100 constituents, whose share prices continue to languish in the gutter, but the value of the index gains, due to the relegation of companies like Hiscox, Johnson Matthey, Hargreaves Lansdown, etc with other companies like Persimmon shuffling out to the FTSE 250, then being readmitted when their market capitalisation was perceived to have improved in relation to existing members of the main UK market.
In other words, the LSE takes care to ensure the FTSE 100 reflects the largest companies, the numeric value of the index really not reflecting how well constituents are actually doing. Or in plain English, the FTSE flirting with the 8000 point level provides absolutely no certainty Lloyds share price shall shoot up, Glencore could continue pretending to be interesting, and BP continues to look like an untroubled puddle of oil despite the index appearing to flourish, due to the revolving door for companies whose market cap meet criteria.
Of course, unlike Formula1, the FTSE doesn’t exist just to entertain folk but, again unlike Formula1, it looks like the FTSE is on the edge of becoming entertaining.
Near term, above 7991 points should prove interesting, calculating with the potential of movement to an initial 8023 points with our secondary, if beaten, working out at 8070 points. If triggered, the tightest stop works out at a fairly reasonable 7943 points. This secondary of 8070 would represent a new all time high from intraday trading levels, the prior offering of 8047 points achieved on February 16th last year. But our rigid in-house rule demands both share price and index levels actually close a session above a prior level to make strength for the future a more comfortable proposition. As mentioned earlier, this demands the FTSE close above 8015 points.
Below 7943 points shows with the risk of triggering reversal to an initial 7912 points with our secondary, if broken, at 7850 points.
Have a good weekend. It’s sushi Sunday here for the Japanese GP, assuming we survive the 70mph winds being forecast for here in Argyll.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:06:50PM | BRENT | 9051.3 | 8844 | 8767 | 8920 | 9102 | 9120 | 8844 | ‘cess | ||
| 9:10:16PM | GOLD | 2285.95 | 2279 | 2254 | 2299 | 2307 | 2315 | 2286 | ‘cess | ||
| 9:12:52PM | FTSE | 7893 | 7880 | 7833 | 7927 | 7994 | 8029 | 7962 | Success | ||
| 9:17:29PM | STOX50 | 5007.1 | 5001 | 4997 | 5020 | 5031 | 5034 | 5008 | ‘cess | ||
| 9:21:11PM | GERMANY | 18190.8 | 18174 | 18117 | 18237 | 18288 | 18302 | 18217 | ‘cess | ||
| 9:24:19PM | US500 | 5149.4 | 5145 | 5123 | 5215 | 5196 | 5217 | 5170 | Success | ||
| 9:34:04PM | DOW | 38568.5 | 38556 | 38530 | 38662 | 38842 | 38867 | 38693 | Success | ||
| 9:40:19PM | NASDAQ | 17869.1 | 17862 | 17783 | 18042 | 18128 | 18235 | 18036 | Success | ||
| 10:12:58PM | JAPAN | 39049 | 39038 | 38586 | 39221 | 39328 | 39415 | 39200 | Shambles |
4/04/2024 FTSE Closed at 7975 points. Change of 0.48%. Total value traded through LSE was: £ 5,806,012,925 a change of -4.14%
3/04/2024 FTSE Closed at 7937 points. Change of 0.03%. Total value traded through LSE was: £ 6,056,901,297 a change of -5.31%
2/04/2024 FTSE Closed at 7935 points. Change of -0.21%. Total value traded through LSE was: £ 6,396,592,284 a change of 13.98%
28/03/2024 FTSE Closed at 7952 points. Change of 0.26%. Total value traded through LSE was: £ 5,611,823,607 a change of -19.65%
27/03/2024 FTSE Closed at 7931 points. Change of 0.01%. Total value traded through LSE was: £ 6,984,265,081 a change of 6.21%
26/03/2024 FTSE Closed at 7930 points. Change of -100%. Total value traded through LSE was: £ 6,575,880,287 a change of 0%
25/03/2024 FTSE Closed at 7917 points. Change of 0%. Total value traded through LSE was: £ 5,239,616,873 a change of 0% 
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:AAL Anglo American** **LSE:BARC Barclays** **LSE:CEY Centamin** **LSE:EMG MAN** **LSE:HSBA HSBC** **LSE:LLOY Lloyds Grp.** **LSE:MMAG Music Magpie** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **LSE:TLW Tullow** **
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Updated charts published on : Anglo American, Barclays, Centamin, MAN, HSBC, Lloyds Grp., Music Magpie, Natwest, Ocado Plc, Tullow,
LSE:AAL Anglo American. Close Mid-Price: 2110.5 Percentage Change: + 3.05% Day High: 2123 Day Low: 2059
Above 2123 now looks capable of a lift to an initial 2174 with secondary, ……..
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View Previous Anglo American & Big Picture ***
LSE:BARC Barclays. Close Mid-Price: 193.16 Percentage Change: + 2.45% Day High: 194.12 Day Low: 188.6
Target met. In the event of Barclays enjoying further trades beyond 194.1 ……..
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View Previous Barclays & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 117.9 Percentage Change: + 0.60% Day High: 120.2 Day Low: 116.5
Target met. All Centamin needs are mid-price trades ABOVE 120.2 to improv ……..
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View Previous Centamin & Big Picture ***
LSE:EMG MAN. Close Mid-Price: 276.4 Percentage Change: + 0.88% Day High: 279.2 Day Low: 274.2
Target met. Continued trades against EMG with a mid-price ABOVE 279.2 sho ……..
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View Previous MAN & Big Picture ***
LSE:HSBA HSBC. Close Mid-Price: 641.7 Percentage Change: + 1.68% Day High: 644.4 Day Low: 633.1
Further movement against HSBC ABOVE 644.4 should improve acceleration tow ……..
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View Previous HSBC & Big Picture ***
LSE:LLOY Lloyds Grp.. Close Mid-Price: 53.96 Percentage Change: + 3.02% Day High: 54.02 Day Low: 52.5
Target met. Continued trades against LLOY with a mid-price ABOVE 54.02 sh ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 6.5 Percentage Change: -7.14% Day High: 7 Day Low: 6.5
Continued weakness against MMAG taking the price below 6.5 calculates as ……..
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View Previous Music Magpie & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 280.5 Percentage Change: + 2.86% Day High: 281 Day Low: 273.5
Target met. Continued trades against NWG with a mid-price ABOVE 281 shoul ……..
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View Previous Natwest & Big Picture ***
LSE:OCDO Ocado Plc Close Mid-Price: 417.2 Percentage Change: -5.03% Day High: 438.2 Day Low: 414.4
In the event Ocado Plc experiences weakness below 414.4 it calculates wit ……..
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View Previous Ocado Plc & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 34 Percentage Change: + 1.55% Day High: 34.12 Day Low: 33.02
All Tullow needs are mid-price trades ABOVE 34.12 to improve acceleration ……..
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View Previous Tullow & Big Picture ***