#FTSE #Gold It has been a crazy week on the FTSE with Mondays opening second plunge provoking some unpleasant behaviour. As we mentioned on Thursday, we are far from confident a “bottom is in”, a suspicion confirmed in the opening second with the FTSE manipulated downward by 60 points at the start of trading, then losing a further bunch of points in the next 30 minutes. It certainly wasn’t behaviour pumping out confidence for the future, creating a situation as puzzling as the final of a Paris Olympics Female boxing match being played out by 2 blokes! France certainly appear to be hosting games which shall prove memorable for all the wrong reasons.
To be fairly brief, above 8176 points should next promote FTSE recovery to an initial 8287 points, a movement which if triggered should be quite sharp, probably with an extremely tight stop loss level. Our longer term secondary calculates at 8421 points, an ambition which would exceed the immediate Blue downtrend but we’ve some doubts. For various nerdy reasons, the FTSE needs to close a session above 8250 points to allow us to tick a major box for movement of greater strength and as it’s a biblically wet August (here in Argyll), we have doubts.
If, as we suspect, things intend go wrong, perhaps due to Taylor Swift cancelling her Austrian concerts due to terrorist threats, the FTSE actually needs fall by around 100 points to 8033, causing panic. Attaining such a level risks triggering further reversals to 7937 points with our secondary, if broken, at 7752 and a probable challenge against the immediate uptrend since 2020.
While we expected the FTSE to settle within a trading channel for August, events of the first week are leaving us a little clueless.
On a brighter note, my big brother is visiting this weekend, intending to build a new hydro electric scheme to replace my previous attempt which was the victim of floods, probably due to turn up on a Canadian shore at some point. His cunning plan is to build a Dam 50 metres up the stream gully, creating a stable water flow. Unfortunately due to recent rainfall levels, the waterfall noise is utterly horrific and I suspect we shall spend the weekend indoors, drinking cider, and making plans for September while he moans about a 450 mile wasted round trip.
Have a good weekend.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:13:23PM | BRENT | 7886.5 | 7756 | 7683 | 7838 | 7930 | 7945 | 7879 | |||
| 10:17:14PM | GOLD | 2427.13 | 2392 | 2378 | 2402 | 2429 | 2441 | 2417 | Success | ||
| 10:19:40PM | FTSE | 8158.9 | 8063 | 8024 | 8119 | 8180 | 8192 | 8130 | ‘cess | ||
| 10:23:25PM | STOX50 | 4681.4 | 4605 | 4578 | 4650 | 4696 | 4750 | 4660 | |||
| 10:25:55PM | GERMANY | 17723 | 17423 | 17338 | 17558 | 17758 | 17849 | 17643 | |||
| 10:28:10PM | US500 | 5325.3 | 5174 | 5147 | 5214 | 5334 | 5406 | 5283 | |||
| 10:31:30PM | DOW | 39474 | 39208 | 39118 | 39325 | 39522 | 39885 | 39213 | Success | ||
| 11:06:20PM | NASDAQ | 18460.2 | 17649 | 17483 | 17836 | 18490 | 18802 | 18221 | Success | ||
| 11:08:47PM | JAPAN | 35740 | 33740 | 33438 | 34879 | 35863 | 36053 | 35431 |
8/08/2024 FTSE Closed at 8144 points. Change of -0.27%. Total value traded through LSE was: £ 4,843,015,012 a change of -1.4%
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% 
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:EMG MAN** **LSE:GLEN Glencore Xstra** **LSE:IHG Intercontinental Hotels Group** **LSE:PMG Parkmead** **LSE:SCLP Scancell** **LSE:SPX Spirax** **LSE:TLW Tullow** **
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Updated charts published on : MAN, Glencore Xstra, Intercontinental Hotels Group, Parkmead, Scancell, Spirax, Tullow,
LSE:EMG MAN Close Mid-Price: 213.8 Percentage Change: -1.66% Day High: 214.6 Day Low: 208.4
Target met. In the event MAN experiences weakness below 208.4 it calculat ……..
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View Previous MAN & Big Picture ***
LSE:GLEN Glencore Xstra Close Mid-Price: 403.2 Percentage Change: -0.25% Day High: 403.45 Day Low: 391.35
This is now looking a little dodgy as weakness below 380 points at the pot ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:IHG Intercontinental Hotels Group Close Mid-Price: 7212 Percentage Change: -0.85% Day High: 7256 Day Low: 7152
Target met. Weakness on Intercontinental Hotels Group below 7152 will inv ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:PMG Parkmead. Close Mid-Price: 11.25 Percentage Change: + 0.00% Day High: 11.25 Day Low: 11
If Parkmead experiences continued weakness below 11, it will invariably l ……..
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View Previous Parkmead & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 17.5 Percentage Change: + 2.94% Day High: 17.5 Day Low: 17
Further movement against Scancell ABOVE 17.5 should improve acceleration ……..
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View Previous Scancell & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 7900 Percentage Change: -7.44% Day High: 8195 Day Low: 7705
Target met. Weakness on Spirax below 7705 will invariably lead to 7446p w ……..
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View Previous Spirax & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 26.96 Percentage Change: -2.60% Day High: 28 Day Low: 26.76
In the event Tullow experiences weakness below 26.76 it calculates with a ……..
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View Previous Tullow & Big Picture ***