#FTSE #BloodyRain We often whinge about the weather here in Argyll while viewing the mountain in the back garden and glowering at the sea to the front. The choice of what feels like almost constant misery from rain has been self inflicted, because once every 100 days, we might be forced to survive good weather. It shouldn’t really have come as a surprise, when the Met Office issued league tables, awarding Argyll a wet sponge due to it being the wettest region of the UK with 90 inches of rain expected every year. The next area in the tables was 12% drier than Argyll!
This year, we suspect records are being broken, the constant rainfall becoming almost biblical. The next person who says “There’s no such thing as bad weather, just the wrong clothes” risks a serious riposte, due to the length of time it takes for boots and “waterproof” jackets to dry. Some bloke has even built the framework of an Ark five hundred feet up a hill locally. While the view is breathtaking (on a dry day), the reality isn’t really worth viewing close up, due to wood joints becoming quite boring very quickly. He obviously didn’t risk putting a body on the framework as it’s certain the wind would deposit the thing quite a few miles away. When our garden shed was blown away in January, we never recovered all of it, suspecting there’s a tree in the forest sporting a very unusual hat.
What has this whine got to do with the Stock Market.
Very little, and everything, obviously.
Emotion is dangerous when reviewing the markets and shares. Over the years, it became apparent we’d be more inclined to take a positive view of an instrument, if the weather outside was nice, the grass cut, the hedges flowering, and the sea calm. It became a joke in-house, expecting a miserable outlook against something, simply due to the racket emanating from the garden waterfall as it evacuated dozens of Olympic sized swimming pools of rainwater every hour. This, one of the stupid forms of measurement, akin to the several “Football fields” gold standard of nonsense, irritates as most folk haven’t seen an Olympic sized pool and some (guilty) also have never seen a football. field.
Returning to real life, it has obviously been raining again but we’re making an effort to provide an optimistic view for the FTSE.
Since 25th March, the FTSE has chosen to pause its climb, stalling at the 8000 point level, perhaps an attempt to convince traders a solid ceiling exists. Historically, this sort of pause tests last (we suspect) until sufficient orders for Short positions have been placed. One day, in a “shocking surprise”, the index may perhaps spike downward at the open, triggering all the short positions, then heading upwards in the face of all logic. Currently, our inclination is against panic on the FTSE unless the index somehow wanders below 7832 points as this is liable to trigger some real dramatics with 7779 as our initial drop target with secondary, if broken, at 7752 points and hopefully a rebound. If triggered, the tightest stop is quite attractive at 7882 points but probably could be a lot tighter.
However, despite the weather, our inclination is to take a more positive stance rather than stroll around in the current miasma of misery. As a result, we hope above 7965 shall trigger market recovery to an initial 8033 points with our secondary, if bettered, now at 8110 points. If triggered, the tightest stop looks like 7918 points.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:23:06PM | BRENT | 8981.9 | 8900 | 8866 | 8958 | 9052 | 9081 | 8996 | |||
| 9:28:25PM | GOLD | 2375.55 | 2332 | 2314 | 2348 | 2377 | 2382 | 2361 | Success | ||
| 9:32:27PM | FTSE | 7943.9 | 7887 | 7875 | 7909 | 7961 | 7989 | 7937 | ‘cess | ||
| 9:35:30PM | STOX50 | 4994.9 | 4932 | 4895 | 4981 | 5011 | 5020 | 4988 | ‘cess | ||
| 9:39:16PM | GERMANY | 18044.3 | 17860 | 17760 | 17998 | 18085 | 18134 | 18015 | ‘cess | ||
| 9:41:59PM | US500 | 5198.7 | 5163 | 5124 | 5213 | 5208 | 5218 | 5195 | Success | ||
| 9:45:05PM | DOW | 38477.5 | 38200 | 38020 | 38411 | 38606 | 38644 | 38454 | Shambles | ||
| 9:50:43PM | NASDAQ | 18306.7 | 17997 | 17926 | 18112 | 18337 | 19436 | 18177 | Success | ||
| 10:04:51PM | JAPAN | 39659 | 39326 | 39201 | 39420 | 39698 | 39788 | 39615 | Success |
11/04/2024 FTSE Closed at 7923 points. Change of -0.48%. Total value traded through LSE was: £ 5,968,969,501 a change of -30.54%
10/04/2024 FTSE Closed at 7961 points. Change of 0.34%. Total value traded through LSE was: £ 8,593,583,138 a change of 30.85%
9/04/2024 FTSE Closed at 7934 points. Change of -0.11%. Total value traded through LSE was: £ 6,567,332,567 a change of 22.56%
8/04/2024 FTSE Closed at 7943 points. Change of 0.4%. Total value traded through LSE was: £ 5,358,628,061 a change of -25.26%
5/04/2024 FTSE Closed at 7911 points. Change of -0.8%. Total value traded through LSE was: £ 7,169,871,265 a change of 23.49%
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 -100%. Total value traded through LSE was: £ 6,056,901,297 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:AFC AFC Energy** **LSE:AZN Astrazeneca** **LSE:BP. BP PLC** **LSE:CAR Carclo** **LSE:CEY Centamin** **LSE:IQE IQE** **
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Updated charts published on : AFC Energy, Astrazeneca, BP PLC, Carclo, Centamin, IQE,
LSE:AFC AFC Energy. Close Mid-Price: 19.74 Percentage Change: + 3.89% Day High: 19.84 Day Low: 18.98
Further movement against AFC Energy ABOVE 19.84 should improve accelerati ……..
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View Previous AFC Energy & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 10962 Percentage Change: + 2.14% Day High: 11092 Day Low: 10816
All Astrazeneca needs are mid-price trades ABOVE 11092 to improve acceler ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 520 Percentage Change: -0.02% Day High: 531.5 Day Low: 518.4
All BP PLC needs are mid-price trades ABOVE 531.5 to improve acceleration ……..
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View Previous BP PLC & Big Picture ***
LSE:CAR Carclo Close Mid-Price: 6.92 Percentage Change: -4.48% Day High: 0 Day Low: 0
If Carclo experiences continued weakness below 6.92, it will invariably l ……..
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View Previous Carclo & Big Picture ***
LSE:CEY Centamin. Close Mid-Price: 127.9 Percentage Change: + 2.32% Day High: 128.3 Day Low: 124.4
All Centamin needs are mid-price trades ABOVE 128.3 to improve accelerati ……..
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View Previous Centamin & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 28.45 Percentage Change: + 10.49% Day High: 28.45 Day Low: 25.6
Further movement against IQE ABOVE 28.45 should improve acceleration towa ……..
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View Previous IQE & Big Picture ***