#FTSE #Gold Friday should prove interesting as unsurprisingly, the political trial of Mr Trump found him guilty of everything. Given the guy was effectively banned from defending himself and the prosecution waited until the end of closing arguments to reveal their imagined justification for the court case, something appears truly wrong with American law. A sneaking suspicion, should Mr Trump win the election, a similar trial shall kick off against Mr Biden and provide weeks of entertainment.
All things considered, Thursday was a strange day, the FTSE showing further upward movement while the USA threw a bit of a tantrum. Here in the UK, even the AIM market is starting to give positive signals for the rest of this year, making a visit to 860 points fairly believable with the obvious potential of many AIM components starting to do something useful. Unfortunately, until such time the AIM is trading above 980, it shall remain at risk of the markets whims but visually, we like how it looks.
Needless to say, we’ve got a “however” and it comes from the DOW, a market which is tottering on the edge of reversals to around 35,500 points. It hasn’t ticked the final box yet but the chart visuals are not pleasing, making it feel like the US is only a bad news story away from provoking reversal of a few thousand points. As for the FTSE, it is now trading in a zone where we cannot be aghast if it eventually finds its way to 8.600+ points. The UK would need below 7,600 points to spoil the party.
For now, despite some fun and games this week, the FTSE looks capable of presenting further upward travels.
Above 8255 points near term apparent should trigger movement toward an initial 8324 points. Our secondary, should this initial ambition be exceeded, calculates at an eventual 8369 points. If triggered, the tightest stop looks like 8205 points, fairly wide but about what could be expected given the risk/reward potentials.
Our converse scenario, if things decide to go wrong, suggest below 8204 points triggering reversal to 8182 with our secondary, if broken, working out at 8153 points and an almost certain rebound.
Have a good weekend, a difficult one as there’s no Monaco Grand Prix to trigger a good nap. Though, in our case, we watched the final 4 episodes of ‘Clarkstons Farm’, a series which had the ability to disappoint, when realising the final episode it “it” for this year.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:40:13PM | BRENT | 8190.6 | 8185 | 8154 | 8227 | 8357 | 8410 | 8271 | |||
| 10:42:47PM | GOLD | 2342.65 | 2323 | 2317 | 2339 | 2352 | 2359 | 2341 | ‘cess | ||
| 10:45:27PM | FTSE | 8230.5 | 8142 | 8075 | 8194 | 8247 | 8283 | 8219 | Shambles | ||
| 11:32:44PM | STOX50 | 4984.1 | 4942 | 4898 | 4979 | 4998 | 5026 | 4980 | ‘cess | ||
| 11:36:19PM | GERMANY | 18461 | 18386 | 18254 | 18480 | 18540 | 18576 | 18457 | Shambles | ||
| 11:38:31PM | US500 | 5230.3 | 5223 | 5194 | 5253 | 5261 | 5274 | 5237 | ‘cess | ||
| 11:41:35PM | DOW | 38085.6 | 38005 | 37644 | 38200 | 38210 | 38280 | 38020 | |||
| 11:44:00PM | NASDAQ | 18510 | 18486 | 18444 | 18562 | 18667 | 18716 | 18587 | ‘cess | ||
| 11:46:50PM | JAPAN | 38065 | 37625 | 37502 | 38120 | 38354 | 38416 | 38106 | Success |
30/05/2024 FTSE Closed at 8231 points. Change of 0.59%. Total value traded through LSE was: £ 8,230,680,116 a change of 35.4%
29/05/2024 FTSE Closed at 8183 points. Change of -0.86%. Total value traded through LSE was: £ 6,078,579,262 a change of 7.75%
28/05/2024 FTSE Closed at 8254 points. Change of -0.76%. Total value traded through LSE was: £ 5,641,394,856 a change of 14.03%
24/05/2024 FTSE Closed at 8317 points. Change of -0.26%. Total value traded through LSE was: £ 4,947,346,285 a change of -38.57%
23/05/2024 FTSE Closed at 8339 points. Change of -0.37%. Total value traded through LSE was: £ 8,053,731,391 a change of 27.95%
22/05/2024 FTSE Closed at 8370 points. Change of -0.55%. Total value traded through LSE was: £ 6,294,493,963 a change of 14.87%
21/05/2024 FTSE Closed at 8416 points. Change of -100%. Total value traded through LSE was: £ 5,479,565,793 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:DGE Diageo** **LSE:GENL Genel** **LSE:GRG Greggs** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:QED Quadrise** **LSE:RKH Rockhopper** **LSE:TERN Tern Plc** **LSE:TLW Tullow** **
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Updated charts published on : AFC Energy, Diageo, Genel, Greggs, Marks and Spencer, National Glib, Quadrise, Rockhopper, Tern Plc, Tullow,
LSE:AFC AFC Energy. Close Mid-Price: 24.15 Percentage Change: + 3.87% Day High: 24.05 Day Low: 21.95
Target met. Further movement against AFC Energy ABOVE 24.05 should improv ……..
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View Previous AFC Energy & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 2602 Percentage Change: + 0.46% Day High: 2612.5 Day Low: 2571.5
Target met. Weakness on Diageo below 2571.5 will invariably lead to 2507p ……..
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View Previous Diageo & Big Picture ***
LSE:GENL Genel. Close Mid-Price: 96.4 Percentage Change: + 6.28% Day High: 98 Day Low: 90.5
Continued trades against GENL with a mid-price ABOVE 98 should improve th ……..
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View Previous Genel & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 2940 Percentage Change: + 1.45% Day High: 2944 Day Low: 2850
All Greggs needs are mid-price trades ABOVE 2944 to improve acceleration ……..
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View Previous Greggs & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 303.9 Percentage Change: + 0.36% Day High: 306 Day Low: 299.7
Continued trades against MKS with a mid-price ABOVE 306 should improve th ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:NG. National Glib. Close Mid-Price: 843 Percentage Change: + 0.55% Day High: 846.2 Day Low: 826.6
In the event National Glib experiences weakness below 826 it calculates wi ……..
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View Previous National Glib & Big Picture ***
LSE:QED Quadrise. Close Mid-Price: 2.27 Percentage Change: + 13.39% Day High: 2.49 Day Low: 2.05
Target met. All Quadrise needs are mid-price trades ABOVE 2.49 to improve ……..
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View Previous Quadrise & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 14.1 Percentage Change: + 4.44% Day High: 14.05 Day Low: 13.35
Further movement against Rockhopper ABOVE 14.05 should improve accelerati ……..
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View Previous Rockhopper & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 2.6 Percentage Change: -7.14% Day High: 2.75 Day Low: 2.45
Weakness on Tern Plc below 2.45 will invariably lead to 1.9p with seconda ……..
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View Previous Tern Plc & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 39.48 Percentage Change: + 5.39% Day High: 39.5 Day Low: 36.4
Continued trades against TLW with a mid-price ABOVE 39.5 should improve t ……..
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View Previous Tullow & Big Picture ***