#Brent #Dax We experienced an unexpected weekend here in Argyll. The plan had been to route a pipe with an inner bore of 5cm, my brother arriving with 55 metres of the stuff designed to hook up with a hydro-electric generator. It was one of these “you had one job” moments, when he dragged everything up the stream gully to the dammed area and in doing so, discovered my measurement was out by 25 metres. How we laughed as the weight of all that plastic tubing was memorable, especially as I’d estimated the distance to the pool of water as around 50 metres. Apparently I should have factored in the level of waterfall drop (7 metres) and the land slope (5 metres), along with the fact I’d measured a straight line, rather than the other two sides of a triangle.
And so, to mollify my big brother, I cheerfully poured him a pint of my home made cider, being careful to warn of the strength. Three pint glasses later, his wife supported his walk to bed, no-one noticing I was avoiding drinking the 18 degree proof stuff. On Sunday, my notorious 6am riser emerged from the bedroom at around noon, deciding he was going up above the cliff to fell some trees. This is a confirmed “bloke” thing and while driving my little red tractor, I could occasionally see a tree toppling as if a monster was charging around. In the forest, I’d spray painted some massive Holly Trees as targets as they’re effectively big weeds, my brother opting to fell every single one of ’em as the hardwood is suitable to burn immediately. Quite literally, we now have an entire years supply of wood above the 7 metre cliff. The next trick will be to get a couple of chums to visit to throw the logs over the cliff, then slice then up down in the cutting area. If I play my cards right, absolutely no effort will be needed on my part. Hollywood clearly has missed a few tricks, if someone wants to gain the attention of big lumberjack types, dangle a large chainsaw in front of them, along with a couple of extremely sharp axe’s.
Sunday evening saw my brother fall victim to my wifes superb cooking, along with further supplies of my home made cider. This time, he was rationed to a couple of pints but I also gave him a 5 litre container of the stuff to take home. His wife scuttled through to their bedroom to hide it but, when offered a 3rd helping of Carbonara and garlic bread, he vanished to his bedroom and returned with yet another full glass of cider. I already felt the current batch was acceptable but, with my lifelong stridently teetotal brother rapidly looking addicted to the stuff, the wisdom of giving him a gallon to take home was questionable. His wife and I agreed it was similar to a dry white wine, my own non drinking wife (unless it is Drambuie) thinks is abhorrent. When we watched a recording of the “1% Club” presented by the genius Lee Mac, my brother went out at the easy question, going to bed in a sulk. Thankfully, normality should return on Monday, our guests due to enjoy a 254 mile drive home to the Ross-shire, an awkward part of Scotland. We’d live there for a few years, due to my entire family staying in a particular village. However, as city folk, the challenge of an 86 mile drive to the nearest Tesco become abhorrent and we started to value visits to our Glasgow home or my wifes family in Yorkshire.
It would be nice to dovetail the foregoing into the dangers of estimating number but it’s something we never do. Things went a little wrong with Barclays as the share price had enacted sufficient work to promote travel to what we’d then shown as 254p. Instead, the rise fizzled out at 242p. In our defence, we had demanded the share price close above 235p to make growth inevitable but it didn’t happen. Instead, despite the surge to 242p, the highest the share price closed at was 234.05p, thus giving us a clue we’d been watch the correct trend. Then things got worse and we’ve circled it on the chart extract below. “They” opted to gap Barclays share price below the Red uptrend, confirming a suspicion Barclays were not due their day in the sun. Quite the converse appears possible as it’s always a little scary when the market starts forcing a share price down.
Our “Panic” level is set at 195p as closure below such a point shall make reversal potentials serious. Equally, closure above 221.5p shall make recovery potentials serious and these are two number probably worth printing out an remembering. Essentially, at present, Barclays has a 26.5p bandwidth which is perhaps worth ignoring, aside from the crucial fact the share price is moving above a Blue downtrend which dates back to 2015. In theory, this should impart some strength to the price, especially as it doesn’t need try very hard to close above our 221.5p trigger level. Such a movement now looks capable of triggering recovery to an initial 257p with our secondary, if beaten, at an eventual 290p and a need for us to run and revue our tea leaves.
Alternately, closure below 195 shall be viewed as a bad thing, capable of triggering reversals to an initial 182p with secondary, if broken, a longer term visually unlikely 163p.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop |
| 3:36:46AM | BRENT | 7956.5 | 7749 | 7505 | 7080 | 7777 | 7978 | 8004 | 8172 | 7864 |
| 3:40:41AM | GOLD | 2430.79 | 2416 | |||||||
| 3:51:44AM | FTSE | 8190.5 | 8136 | |||||||
| 4:09:20AM | STOX50 | 4687 | 4646 | |||||||
| 4:19:57AM | GERMANY | 17773.9 | 17626 | 17595 | 17529 | 17737 | 17786 | 17888 | 18175 | 17654 |
| 4:27:06AM | US500 | 5340 | 5297 | |||||||
| 1:56:48AM | DOW | 39475 | 39410 | |||||||
| 1:59:17AM | NASDAQ | 18511.8 | 18421 | |||||||
| 2:01:44AM | JAPAN | 35335 | 35468 |
9/08/2024 FTSE Closed at 8168 points. Change of 0.29%. Total value traded through LSE was: £ 4,283,759,175 a change of -11.55%
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% 
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:JET Just Eat** **LSE:SCLP Scancell** **LSE:SPX Spirax** **LSE:STAR Star Energy** **
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Updated charts published on : Just Eat, Scancell, Spirax, Star Energy,
LSE:JET Just Eat. Close Mid-Price: 1082 Percentage Change: + 3.64% Day High: 1106 Day Low: 1072
Further movement against Just Eat ABOVE 1106 should improve acceleration ……..
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View Previous Just Eat & Big Picture ***
LSE:SCLP Scancell. Close Mid-Price: 18 Percentage Change: + 2.86% Day High: 18.5 Day Low: 17.5
Target met. In the event of Scancell enjoying further trades beyond 18.5, ……..
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View Previous Scancell & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 7660 Percentage Change: -3.04% Day High: 7945 Day Low: 7650
Continued weakness against SPX taking the price below 7650 calculates as ……..
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View Previous Spirax & Big Picture ***
LSE:STAR Star Energy. Close Mid-Price: 7.95 Percentage Change: + 3.65% Day High: 8.42 Day Low: 7.64
Target met. All Star Energy needs are mid-price trades ABOVE 8.42 to impr ……..
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View Previous Star Energy & Big Picture ***