#Gold #WallSt We shall be covering the FTSE on Thursday evening but, there are discussions among market analysts trying to decide if the reversals this week were a fluke which shall produce sharp recovery. But some of the usual suspects are predicting a ‘W’ shaped recovery, essentially a double bottom. Both sides of the academic argument are making the assumption the visit to 7914 points on the FTSE was indeed a bottom. Of course, this provoked our usual blast of cynicism as there’s no such thing as a sure thing in the UK market!
It’s all been a bit of a puzzle, the UK reversing to an arithmetically correct bottom, along with Germany, Wall St and the S&P. This sort of behaviour generally is taken to confirm markets placing themselves in a safe zone, complying with our utter distrust of market movements during August. Our issue with the UK market comes from our arithmetic – do we trust Futures numbers or real FTSE opening hours numbers? It’s fairly unusual for this to be a Big Deal but this week, the only way we could conflate the FTSE exact bottom was to rely on Futures out of hours, a method we distrust but this week, it may be right. With major world markets opting to align themselves with a theoretical bottom in the last few days, perhaps it shall prove to be the case. Because it’s August, when everyone is on holiday in the Hamptons or the Butlins…
We cannot produce any miracle numbers, rather than make an assumption if “the bottom” was real, FTSE recovery to around 8250 points should also be real.
As for TP ICAP, we think they’re worth casting an eye over. The financial services firm, a member of the FTSE 250, enjoy a copper bottomed reputation. (in the 18th/19th C, Royal Navy ships hulls were sheathed with copper, stopping any marine growths and making them faster, catching French vessels and pirates too!) In our experience, firms working in this area often have a few question marks but “TCAP” seem stain proof. Perhaps as a result, it’ll be worth keeping an eye on their share price as something seems to be happening with this multinational company, despite some recent collywobbles.
In a bit of a jump, we can produce 245 as a potential trigger level, allowing share price recovery to an initial 254p with our longer term secondary, working out at an eventual 306p and some hesitation. Our secondary even makes some sense from a visual perspective, doubtless able to provoke a stutter in a share price gain. Regardless, we shall revisit if the company share price closes above 254p as this risks becoming game changing.
Should things intend go wrong, below 208p risks some trouble, potentially producing reversals to an initial 156p with secondary, if broken, at 134p. However, our thoughts are fairly positive for the future of this mob.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:19:57PM | BRENT | 7845.5 | ‘cess | ||||||||
| 12:42:59AM | GOLD | 2381.44 | 2379 | 2365 | 2347 | 2392 | 2403 | 2409 | 2418 | 2388 | |
| 1:08:52AM | FTSE | 8076.3 | ‘cess | ||||||||
| 1:12:41AM | STOX50 | 4587.9 | |||||||||
| 1:16:32AM | GERMANY | 17361.3 | ‘cess | ||||||||
| 1:26:34AM | US500 | 5182.3 | Shambles | ||||||||
| 1:34:39AM | DOW | 38716.5 | 38624 | 38460 | 38119 | 38835 | 39482 | 39044 | 39204 | 38743 | Shambles |
| 1:38:19AM | NASDAQ | 17802.6 | Shambles | ||||||||
| 1:44:19AM | JAPAN | 34431 | Success |
7/08/2024 FTSE Closed at 8166 points. Change of 1.74%. Total value traded through LSE was: £ 4,912,004,252 a change of -45.12%
6/08/2024 FTSE Closed at 8026 points. Change of 0.22%. Total value traded through LSE was: £ 8,950,670,093 a change of 16.02%
5/08/2024 FTSE Closed at 8008 points. Change of -2.03%. Total value traded through LSE was: £ 7,714,993,159 a change of 12.21%
2/08/2024 FTSE Closed at 8174 points. Change of -1.32%. Total value traded through LSE was: £ 6,875,472,629 a change of 20.68%
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% 
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:GENL Genel** **LSE:IHG Intercontinental Hotels Group** **LSE:IPF International Personal Finance** **LSE:PMG Parkmead** **LSE:SCLP Scancell** **LSE:TLW Tullow** **
********
Updated charts published on : Genel, Intercontinental Hotels Group, International Personal Finance, Parkmead, Scancell, Tullow,
LSE:GENL Genel. Close Mid-Price: 81 Percentage Change: + 7.00% Day High: 81.1 Day Low: 75.5
If Genel experiences continued weakness below 75.5, it will invariably le ……..
</p
View Previous Genel & Big Picture ***
LSE:IHG Intercontinental Hotels Group Close Mid-Price: 7274 Percentage Change: -1.84% Day High: 7420 Day Low: 7182
If Intercontinental Hotels Group experiences continued weakness below 718 ……..
</p
View Previous Intercontinental Hotels Group & Big Picture ***
LSE:IPF International Personal Finance. Close Mid-Price: 153.5 Percentage Change: + 4.07% Day High: 158.5 Day Low: 148.5
In the event of International Personal Finance enjoying further trades be ……..
</p
View Previous International Personal Finance & Big Picture ***
LSE:PMG Parkmead Close Mid-Price: 11.25 Percentage Change: -2.17% Day High: 11.75 Day Low: 11.25
In the event Parkmead experiences weakness below 11.25 it calculates with ……..
</p
View Previous Parkmead & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 17 Percentage Change: + 3.03% Day High: 17.25 Day Low: 16.75
Target met. Continued trades against SCLP with a mid-price ABOVE 17.25 sh ……..
</p
View Previous Scancell & Big Picture ***
LSE:TLW Tullow. Close Mid-Price: 27.68 Percentage Change: + 0.87% Day High: 28.6 Day Low: 26.92
Weakness on Tullow below 26.92 will invariably lead to 26p with secondary ……..
</p
View Previous Tullow & Big Picture ***