#FTSE #WallSt Our pessimistic outlook for the market, in the event of an interest rate cut by the Bank of England, proved not to be a wasted emotion, the FTSE indeed doing the opposite of what was expected. An upward spike at the open to 8405 was paid back in full by subsequent reversals to 8268 and a potential bounce. To be honest, we suspect Friday shall provide some gains for the FTSE, hopefully NOT with an artificial spike upward in the opening seconds.
We think there was very real uncertainty about “what to do” in the early hours of Thursday, several companies showing quite different Futures values for various markets. This created a situation, where we felt it unwise to provide Short potentials across the FTSE or European markets, while the USA proved impossible to predict with any degree of confidence. Maybe it’s been such a long time, the markets are forgetting what they do when faced with a sure thing!
Friday 2nd August expects the US to provide their Payrolls numbers at 1.30pm UK time. Given the majority of states numbers will be guesstimates, due to the proximity to the start of the month, it’s almost inevitable the collated reports shall show more than 175,000 jobs created, this being the estimated number by analysts. Exceeding such a target will cause the markets to spike, the FTSE usually opting to follow along, and we’ve come to expect “estimates” always to be optimistically wrong. When the real numbers are drip fed in the coming week, we expect the markets will experience a series of reversals.
It certainly looks like the FTSE has decided to abandon the previous median level of 8200 points, probably heading upward to another parking level for the month of August until mid-September by which time the big players will all have returned from their Centre Parks holidays. Routinely, here in Argyll, we joke about tourist numbers but this year it’s becoming unusual to hear a Scottish accent, event when out with the pets. A favourite walk revealed a family who’d taken quite a lot of effort to move themselves, their picnic furniture, their children, to a low water pebble island which has appeared in the middle of a river. Feeling mildly sorry for the invaders, I pointed out there was a completely empty, pristine sandy beach on the shore, just around the next bend in the river. My Golden Retriever, after ascertaining no food was available to steal, continued her walk up the middle of the river, still refusing to come out. She thinks it’s funny but, when we reverse course, she’s capable of pretending to swim fast with the current behind her.
As for Friday, the FTSE is showing some quite interesting potentials. If we are correct in our supposition the forced reversal to 8268 points on Thursday should now be rewarded with some upward travel, next above 8321 points should prove capable of a lift to an initial 8380 points with our secondary, if bettered, calculating at an impressive 8468 points. This creates a montage, of higher highs, meaning we shall view a long term 8604 points as creating an influence. If triggered, the tightest stop looks like a massive 8230, perhaps confirming an illusion the index is about to be “trapped” in a zone between 8200 and 8600 points.
If things intend go horribly wrong, below 8268 could be dangerous, presenting the scenario of reversal to an initial 8209 with our secondary, if broken, at 8139 points.
Have a good weekend, even though Formula1 is on holiday.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 10:16:51PM | BRENT | 7997.8 | 7942 | 7926 | 8023 | 8163 | 8247 | 8109 | ||
| 10:22:07PM | GOLD | 2445.88 | 2430 | 2418 | 2443 | 2463 | 2468 | 2442 | ||
| 10:25:07PM | FTSE | 8291.8 | 8259 | 8212 | 8283 | 8311 | 8322 | 8282 | ||
| 10:27:50PM | STOX50 | 4746 | 4729 | 4709 | 4759 | 4851 | 4901 | 4808 | ||
| 10:31:57PM | GERMANY | 18053.5 | 17977 | 17925 | 18107 | 18334 | 18483 | 18220 | ||
| 10:34:49PM | US500 | 5436.3 | 5408 | 5339 | 5452 | 5481 | 5506 | 5415 | ||
| 10:40:27PM | DOW | 40236 | 40097 | 40058 | 40253 | 40430 | 40524 | 40270 | ||
| 10:44:32PM | NASDAQ | 18831.6 | 18723 | 18656 | 18931 | 19101 | 19260 | 18980 | ||
| 10:48:17PM | JAPAN | 36765 | 36448 | 36386 | 36913 | 38204 | 38705 | 37756 |
1/08/2024 FTSE Closed at 8283 points. Change of -1%. Total value traded through LSE was: £ 5,697,242,185 a change of -8.56%
31/07/2024 FTSE Closed at 8367 points. Change of 1.12%. Total value traded through LSE was: £ 6,230,318,806 a change of 19.13%
30/07/2024 FTSE Closed at 8274 points. Change of -0.22%. Total value traded through LSE was: £ 5,229,655,790 a change of 9.68%
29/07/2024 FTSE Closed at 8292 points. Change of 0.08%. Total value traded through LSE was: £ 4,768,279,831 a change of 1.53%
26/07/2024 FTSE Closed at 8285 points. Change of 1.21%. Total value traded through LSE was: £ 4,696,468,997 a change of -12.32%
25/07/2024 FTSE Closed at 8186 points. Change of 0.4%. Total value traded through LSE was: £ 5,356,362,048 a change of 4.45%
24/07/2024 FTSE Closed at 8153 points. Change of -0.17%. Total value traded through LSE was: £ 5,128,130,189 a change of -2.6% 
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:BARC Barclays** **LSE:GRG Greggs** **LSE:IDS International Distribution** **LSE:IGG IG Group** **LSE:IHG Intercontinental Hotels Group** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:RKH Rockhopper** **LSE:RR. Rolls Royce** **LSE:SCLP Scancell** **LSE:SPT Spirent Comms** **LSE:TSCO Tesco** **
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Updated charts published on : AFC Energy, Barclays, Greggs, International Distribution, IG Group, Intercontinental Hotels Group, Lloyds Grp., Marks and Spencer, Rockhopper, Rolls Royce, Spirent Comms, Tesco,
LSE:AFC AFC Energy Close Mid-Price: 14.84 Percentage Change: -1.07% Day High: 15.58 Day Low: 14.7
Continued weakness against AFC taking the price below 14.7 calculates as ……..
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View Previous AFC Energy & Big Picture ***
LSE:BARC Barclays Close Mid-Price: 222.9 Percentage Change: -4.66% Day High: 241.65 Day Low: 222.25
Target met. In the event of Barclays enjoying further trades beyond 241.6 ……..
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View Previous Barclays & Big Picture ***
LSE:GRG Greggs. Close Mid-Price: 3140 Percentage Change: + 0.19% Day High: 3194 Day Low: 3122
All Greggs needs are mid-price trades ABOVE 3194 to improve acceleration ……..
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View Previous Greggs & Big Picture ***
LSE:IDS International Distribution. Close Mid-Price: 347 Percentage Change: + 0.58% Day High: 349.2 Day Low: 339.6
Target met. All International Distribution needs are mid-price trades ABO ……..
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View Previous International Distribution & Big Picture ***
LSE:IGG IG Group Close Mid-Price: 934.5 Percentage Change: -0.32% Day High: 953 Day Low: 931.5
All IG Group needs are mid-price trades ABOVE 953 to improve acceleration ……..
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View Previous IG Group & Big Picture ***
LSE:IHG Intercontinental Hotels Group Close Mid-Price: 7620 Percentage Change: -2.81% Day High: 7856 Day Low: 7614
Weakness on Intercontinental Hotels Group below 7614 will invariably lead ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:LLOY Lloyds Grp. Close Mid-Price: 56.16 Percentage Change: -5.74% Day High: 58.84 Day Low: 56.3
Continued weakness against LLOY taking the price below 56.3 calculates as ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 331.2 Percentage Change: + 0.88% Day High: 339.4 Day Low: 331
Target met. All Marks and Spencer needs are mid-price trades ABOVE 339.4 ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 15.05 Percentage Change: + 2.91% Day High: 15.4 Day Low: 15
Continued trades against RKH with a mid-price ABOVE 15.4 should improve t ……..
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View Previous Rockhopper & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 481.1 Percentage Change: + 7.01% Day High: 502.8 Day Low: 477.5
Target met. Continued trades against RR. with a mid-price ABOVE 502.8 sho ……..
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View Previous Rolls Royce & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 16 Percentage Change: + 3.23% Day High: 16 Day Low: 15.5
Further movement against Scancell ABOVE 16 should improve acceleration to ……..
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View Previous Scancell & Big Picture ***
LSE:SPT Spirent Comms Close Mid-Price: 172.5 Percentage Change: -0.29% Day High: 174.5 Day Low: 168.1
Weakness on Spirent Comms below 168.1 will invariably lead to 160p possib ……..
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View Previous Spirent Comms & Big Picture ***
LSE:TSCO Tesco Close Mid-Price: 330.1 Percentage Change: -0.45% Day High: 335.2 Day Low: 330
Further movement against Tesco ABOVE 335.2 should improve acceleration to ……..
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View Previous Tesco & Big Picture ***