#FTSE #GOLD The chart below, painting a picture of comparative performance by Wall St, The Dax, and The FTSE since the pandemic low of 2020, doesn’t show the UK in a great light. Wall St, more than doubling from 19000 points to 39000 points, the DAX, also more than doubling from 8000 points to 18000, and the FTSE going from 5000 points to just 8400 points. It’s not a pretty picture, vividly showing how painful the UK market has been underperforming during the last four years. But to keep current, the Spanish stock exchange, the Ibex35, has “only” moved from 6000 points to 11000, nearly double and substantially ahead of the FTSE. Perhaps this doesn’t bode well for Sunday and the football match which is getting harder to ignore.
As for the FTSE, we’d expected the UK to be flat while the election played out to its forgone conclusion. The days since the result have proven pretty placid in a period when other markets have felt like they intend go higher than immediate logic allows. The Nasdaq for instance calculated with a theoretical “top” around 20,200 and this week has seen the index briefly head to 20,400 points before slightly reversing. Perhaps we are about ready to enter a period where the FTSE breaks free of its malaise and produce some gains?
If we’re correct in our theory, above just 8234 points should trigger FTSE gains to an initial 8258 points with our longer term secondary, if bettered, at a more useful 8300 points. Of triggered, the tightest stop could be tight at 8190 but we really prefer 8177 as a stop loss level. From a Big Picture viewpoint, should such a lift occur, we can calculate a future 8456 as apparently presenting a sensible target. Visually, we shall be concerned should the UK index make it to such a price level as it matches the highs from May of this year, presenting an image where any excuse for market jitters could easily provoke a series of nasty reversals in the months ahead.
Our immediate converse scenario shows with any movement below 8177 risking triggering reversals to an initial 8107 points with our secondary, if broken, a less likely 8050 points. Visually, there’s obviously a reasonable argument to anticipate a rebound from the 8107 level, if such a calamity presents.
Have a good weekend and do remember, if out rioting with football fans, wear a mask to remain safe…
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 12:15:44AM | BRENT | 8534.5 | 8386 | 8336 | 8492 | 8570 | 8648 | 8474 | |||
| 12:19:45AM | GOLD | 2412.39 | 2372 | 2356 | 2387 | 2425 | 2431 | 2405 | Success | ||
| 12:22:25AM | FTSE | 8226.9 | 8188 | 8175 | 8214 | 8235 | 8256 | 8195 | |||
| 12:24:56AM | STOX50 | 4970.3 | 4962 | 4946 | 4980 | 5009 | 5024 | 4969 | ‘cess | ||
| 12:27:28AM | GERMANY | 18526 | 18414 | 18369 | 18514 | 18582 | 18640 | 18502 | Success | ||
| 12:31:17AM | US500 | 5592.5 | 5576 | 5557 | 5597 | 5653 | 5780 | 5570 | Success | ||
| 12:34:50AM | DOW | 39822.5 | 39618 | 39546 | 39740 | 39874 | 39970 | 39700 | ‘cess | ||
| 12:37:56AM | NASDAQ | 20242 | 20200 | 20147 | 20279 | 20320 | 20359 | 20233 | ‘cess | ||
| 12:42:43AM | JAPAN | 41714 | 41472 | 41087 | 41709 | 41877 | 41906 | 41621 | Success |
11/07/2024 FTSE Closed at 8223 points. Change of 0.37%. Total value traded through LSE was: £ 4,843,565,860 a change of 2.51%
10/07/2024 FTSE Closed at 8193 points. Change of 0.66%. Total value traded through LSE was: £ 4,725,141,160 a change of -14.23%
9/07/2024 FTSE Closed at 8139 points. Change of -0.66%. Total value traded through LSE was: £ 5,509,291,048 a change of 31.2%
8/07/2024 FTSE Closed at 8193 points. Change of -0.12%. Total value traded through LSE was: £ 4,199,265,800 a change of -27.16%
5/07/2024 FTSE Closed at 8203 points. Change of -0.46%. Total value traded through LSE was: £ 5,765,215,799 a change of 61.04%
4/07/2024 FTSE Closed at 8241 points. Change of 0.86%. Total value traded through LSE was: £ 3,579,962,751 a change of -46.51%
3/07/2024 FTSE Closed at 8171 points. Change of 0.62%. Total value traded through LSE was: £ 6,692,388,368 a change of 28.25% 
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:AVCT Avacta** **LSE:BBY BALFOUR BEATTY** **LSE:ITM ITM Power** **LSE:NG. National Glib** **LSE:SBRY Sainsbury** **LSE:SDY Speedyhire** **LSE:SMT Scottish Mortgage Investment Trust** **
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Updated charts published on : Avacta, BALFOUR BEATTY, ITM Power, National Glib, Sainsbury, Speedyhire, Scottish Mortgage Investment Trust,
LSE:AVCT Avacta Close Mid-Price: 79.5 Percentage Change: -3.64% Day High: 86 Day Low: 75
Further movement against Avacta ABOVE 86 should improve acceleration towa ……..
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View Previous Avacta & Big Picture ***
LSE:BBY BALFOUR BEATTY. Close Mid-Price: 402.6 Percentage Change: + 0.85% Day High: 403.8 Day Low: 397.2
Target met. Further movement against BALFOUR BEATTY ABOVE 403.8 should im ……..
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View Previous BALFOUR BEATTY & Big Picture ***
LSE:ITM ITM Power. Close Mid-Price: 63.9 Percentage Change: + 9.61% Day High: 63.5 Day Low: 58.65
Continued trades against ITM with a mid-price ABOVE 63.5 should improve t ……..
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View Previous ITM Power & Big Picture ***
LSE:NG. National Glib. Close Mid-Price: 958.4 Percentage Change: + 1.78% Day High: 969.4 Day Low: 941
All National Glib needs are mid-price trades ABOVE 969.4 to improve accel ……..
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View Previous National Glib & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 268 Percentage Change: + 2.76% Day High: 268.2 Day Low: 261.4
Continued trades against SBRY with a mid-price ABOVE 268.2 should improve ……..
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View Previous Sainsbury & Big Picture ***
LSE:SDY Speedyhire. Close Mid-Price: 40.1 Percentage Change: + 5.11% Day High: 40 Day Low: 37.95
Target met. All Speedyhire needs are mid-price trades ABOVE 40 to improve ……..
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View Previous Speedyhire & Big Picture ***
LSE:SMT Scottish Mortgage Investment Trust. Close Mid-Price: 904.8 Percentage Change: + 0.53% Day High: 911 Day Low: 900.8
Further movement against Scottish Mortgage Investment Trust ABOVE 911 sho ……..
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View Previous Scottish Mortgage Investment Trust & Big Picture ***