#FTSE #Gold There’s nothing like a seriously big picture glance at a chart to throw a bucket of cold water on expectations. Surprisingly, for the FTSE, this isn’t the case as the share price has now closed higher, achieved a higher intraday value, than at any point ever. In fact, from the perspective of most of hour rules we’d be churlish to dodge optimism as the market value now also exceeds levels pre-pandemic. Perhaps we’re closing on the time, when opening a bottle of “own brand” supermarket Prosecco is almost a good idea and on the bright side, any left in the bottle can be used to remove bird droppings from a car.
There is certainly plenty of reason to pause for thought with the immediate chart below. From 2003 until 2007, people everywhere were delighted at the FTSE recovery from the Tech crash of 2003 but literally, from every perspective, the FTSE failed in providing final confirmation of happy days continuing, when during 2007 it utterly failed to register Higher Highs of any type. Everyone knows what happened thereafter, this failure to recover ushering in the Financial crash of 2009. A constant irritant, following the 2009 crash, came from repeated articles in the FT and Telegraph, warning a “Double Bottom was somehow inevitable to match 2009’s lows. Anyone capable of reviewing a chart rapidly spotted the Financial crash already met criteria for a market “Double Bottom” following events from 2003. But it was going to take until 2013 before they stopped writing this silly theory.
Thus, we now find ourselves in a surprising situation, the FTSE having ticked some pretty important boxes which allow optimism for the longer term. Those of a sceptical disposition should skip the next bit, due to the Big Picture offering some quite fanciful strength for the longer term.
Apparently, the FTSE can now be viewed as heading toward an initial 8635 points with our secondary, if bettered, an amazing 9298 points. Obviously, this is from a long term standpoint, the FTSE needing below 7517 points to utterly cancel our calculations. From the point of view of constituents of the FTSE, hopefully this is an indication some of the sectors languishing in the gutter are about to try for a day in the sun.
The FTSE from a near term perspective is simply strange. Since April 22nd, the index has been refusing to make “proper” movements, mucking around with multiple fits and starts, only to be hammered back into place as each day continues. Thankfully, behaviour has gotten to the point where above just 8106 points should trigger movement next to an initial 8131 points with our secondary, if beaten, a surprisingly smug looking 8204 points. Should such a miracle occur, our tightest stop looks like 8058 points.
Our converse scenario suggests weakness below 8058 risks a trip down to 8034 points. If broken, our secondary works out at 8003 points and a possible bounce.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:47:41PM | BRENT | 8794.2 | 8664 | 8604 | 8685 | 8803 | 8830 | 8713 | |||
| 9:52:40PM | GOLD | 2331.63 | 2313 | 2303 | 2325 | 2345 | 2355 | 2323 | |||
| 9:55:22PM | FTSE | 8135.4 | 8078 | 8054 | 8108 | 8144 | 8157 | 8122 | Success | ||
| 9:58:48PM | STOX50 | 4981.5 | 4899 | 4865 | 4943 | 4993 | 5007 | 4963 | Success | ||
| 10:01:13PM | GERMANY | 18064.5 | 17908 | 17791 | 18007 | 18083 | 18093 | 18023 | ‘cess | ||
| 10:03:28PM | US500 | 5099.5 | 5043 | 5020 | 5073 | 5101 | 5124 | 5071 | Shambles | ||
| 10:05:58PM | DOW | 38146.5 | 37755 | 37716 | 37887 | 38212 | 38325 | 38072 | Success | ||
| 10:08:14PM | NASDAQ | 17683.8 | 17365 | 17265 | 17477 | 17700 | 17750 | 17630 | Shambles | ||
| 10:11:27PM | JAPAN | 37829 | 37118 | 36917 | 37406 | 37900 | 38081 | 37587 | Success |
25/04/2024 FTSE Closed at 8078 points. Change of 0.47%. Total value traded through LSE was: £ 7,668,407,153 a change of -4.61%
24/04/2024 FTSE Closed at 8040 points. Change of -0.05%. Total value traded through LSE was: £ 8,038,861,258 a change of 24.9%
23/04/2024 FTSE Closed at 8044 points. Change of 0.26%. Total value traded through LSE was: £ 6,436,213,150 a change of 18.32%
22/04/2024 FTSE Closed at 8023 points. Change of 1.62%. Total value traded through LSE was: £ 5,439,622,583 a change of -22.9%
19/04/2024 FTSE Closed at 7895 points. Change of 0.23%. Total value traded through LSE was: £ 7,055,208,688 a change of 7.7%
18/04/2024 FTSE Closed at 7877 points. Change of 0.38%. Total value traded through LSE was: £ 6,551,072,926 a change of 27.48%
17/04/2024 FTSE Closed at 7847 points. Change of 0.35%. Total value traded through LSE was: £ 5,138,744,008 a change of -8.61% 
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:AZN Astrazeneca** **LSE:BARC Barclays** **LSE:ECO ECO (Atlantic) O & G** **LSE:NWG Natwest** **
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Updated charts published on : Anglo American, Astrazeneca, Barclays, ECO (Atlantic) O & G, Natwest,
LSE:AAL Anglo American. Close Mid-Price: 2560 Percentage Change: + 16.10% Day High: 2579.5 Day Low: 2421
Target met. Further movement against Anglo American ABOVE 2579.5 should i ……..
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View Previous Anglo American & Big Picture ***
LSE:AZN Astrazeneca. Close Mid-Price: 12026 Percentage Change: + 5.94% Day High: 12096 Day Low: 11850
Target met. Continued trades against AZN with a mid-price ABOVE 12096 sho ……..
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View Previous Astrazeneca & Big Picture ***
LSE:BARC Barclays. Close Mid-Price: 204 Percentage Change: + 6.73% Day High: 206.7 Day Low: 194
Target met. Continued trades against BARC with a mid-price ABOVE 206.7 sh ……..
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View Previous Barclays & Big Picture ***
LSE:ECO ECO (Atlantic) O & G. Close Mid-Price: 10.3 Percentage Change: + 9.57% Day High: 10.3 Day Low: 9.4
Target met. Further movement against ECO (Atlantic) O & G ABOVE 10.3 shou ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:NWG Natwest. Close Mid-Price: 289.8 Percentage Change: + 1.36% Day High: 290.8 Day Low: 285
All Natwest needs are mid-price trades ABOVE 290.8 to improve acceleratio ……..
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View Previous Natwest & Big Picture ***