#Gold #WallSt Living next door to Europe’s nuclear weapons store, along with the UK’s nuclear fleet often blundering around their home base and primary repair workshop, we’re fairly used to a varied collection of military toys on the water or in the air. But 3am on Tuesday brought something new. The FlightRadar24 website sometimes identifies what just flew overhead but most times, nothing is shown despite the visual evidence of a gang of Chinooks flying low over the sea. Last night, something new was in the sky, the familiar vibration in the air from an approaching helicopter but this time, the silent thrum of an approaching aircraft seemed to go on for ever. As a result, turning off the outside light sensors and wandering around the garden revealed absolutely nothing in the sky. But the vibration in the air continued, the silent focus of the “noise” slowly passing, following the familiar route of military machinery up the valley into the mountains with an echo reminiscent of a washing machine slightly out of balance..
It seems probable the military have a new secret toy, one which certainly didn’t move fast and the vibration of air displacement gave plenty of warning something was “out there”. In terms of speed, it was akin to hearing a gaggle of mid-life-crisis Harley Davidson’s approaching, along with the disappointed realisation anyone watching would be able to write down the 17 digit chassis number of each machine. Living in Argyll, a place where twisty fast roads exist, the majority of visiting motorcycles unfortunately come from America.
Things change and we’ve grown used to it. But Burberry being ejected from the FTSE 100 was a bit of a shock. While as a countryside dweller, we’ve learned to eschew Burberry gear as overpriced tat, now marketed for those who value brand name rather than actual utility. Meanwhile, insurer Hiscox has been elevated from the FTSE 250 to the more prestigious FTSE 100, so perhaps there shall be implications for the share price?
To dwell on Burberry first, a company for whom we harbour a grudge due to a white cashmere scarf*, their share price is looking just a little troubling as the reversal cycle which commenced in 2023 doesn’t yet look like it has completed. We’ve drawn a trend line on the chart but do not trust it. From our perspective, the share price needs exceed 1360p before entering the realms of safety and at a current 623p, it feels unlikely.
Below just 620p calculates with the potential of reversal to an initial 467p with our longer term secondary, if broken, at 296p eventually. Relatively speaking, the proximity of these target levels suggests the potential for a bottom which should provoke a bounce hopefully. But for now, we’re not enthusiastic about Burberry.
*As for the white cashmere scarf, I was gifted one as a present and lost it skiing in Meribel in France. Every attempt to buy a replacement failed, the company protesting the product line was no longer stocked. After spending a silly amount for a replacement which was black, within weeks Burberry yet again had the white version in stock.
Hiscox are a different kettle of fish. Due to particularly unpleasant experiences with Swinton Insurance, we’ve a bit of a grouch about the insurance industry and Swintons inability to deal with the storms from January of this year, we’ve automatic scepticism about the industry. (Swinton fired their claims handling subcontractor, told no-one about it, all further emails to the subcontractor being ignored.)
Hiscox share price movement above 1219p looks capable of provoking a surge to an initial 1258p with our longer term secondary, if bettered, at 1311p and a game changing potential with an official Higher High. While the initial Big Picture perspective suggests this secondary shall dump the share price into a zone where 1421p exerts an influence, realistically we shall view the price as entering a cycle toward a long term 2063p.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:29:01PM | BRENT | 7264 | |||||||||
| 11:34:35PM | GOLD | 2494.57 | 2472 | 2458 | 2434 | 2489 | 2501 | 2508 | 2520 | 2491 | ‘cess |
| 11:38:53PM | FTSE | 8250.2 | 8251 | ‘cess | |||||||
| 11:41:47PM | STOX50 | 4837.6 | 4844 | ‘cess | |||||||
| 11:44:40PM | GERMANY | 18547.7 | 18575 | ‘cess | |||||||
| 11:51:15PM | US500 | 5506.9 | 5518 | ‘cess | |||||||
| 11:04:39PM | DOW | 40910 | 40773 | 40500 | 40138 | 40887 | 41180 | 41278 | 41446 | 40915 | ‘cess |
| 11:10:35PM | NASDAQ | 18894.4 | 18932 | ‘cess | |||||||
| 11:13:54PM | JAPAN | 36492 | 37188 |
4/09/2024 FTSE Closed at 8269 points. Change of -0.35%. Total value traded through LSE was: £ 5,109,260,535 a change of 3.53%
3/09/2024 FTSE Closed at 8298 points. Change of -0.78%. Total value traded through LSE was: £ 4,935,106,783 a change of 50.92%
2/09/2024 FTSE Closed at 8363 points. Change of -0.16%. Total value traded through LSE was: £ 3,270,019,742 a change of -47.48%
30/08/2024 FTSE Closed at 8376 points. Change of -0.04%. Total value traded through LSE was: £ 6,226,759,673 a change of 55.63%
29/08/2024 FTSE Closed at 8379 points. Change of 0.43%. Total value traded through LSE was: £ 4,000,918,799 a change of 4.23%
28/08/2024 FTSE Closed at 8343 points. Change of -0.02%. Total value traded through LSE was: £ 3,838,365,101 a change of -20.19%
27/08/2024 FTSE Closed at 8345 points. Change of -100%. Total value traded through LSE was: £ 4,809,416,803 a change of 0% 
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:AAL Anglo American** **LSE:AFC AFC Energy** **LSE:BP. BP PLC** **LSE:FGP Firstgroup** **LSE:GLEN Glencore Xstra** **LSE:IAG British Airways** **LSE:IQE IQE** **LSE:MKS Marks and Spencer** **LSE:TLW Tullow** **LSE:TSCO Tesco** **
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Updated charts published on : Anglo American, AFC Energy, BP PLC, Firstgroup, Glencore Xstra, British Airways, IQE, Marks and Spencer, Tullow, Tesco,
LSE:AAL Anglo American Close Mid-Price: 2097.5 Percentage Change: -0.52% Day High: 2111.5 Day Low: 2074
Weakness on Anglo American below 2074 will invariably lead to 1952p possi ……..
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View Previous Anglo American & Big Picture ***
LSE:AFC AFC Energy Close Mid-Price: 12.5 Percentage Change: -0.79% Day High: 12.72 Day Low: 11.7
Target met. Weakness on AFC Energy below 11.7 will invariably lead to 10. ……..
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View Previous AFC Energy & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 413.85 Percentage Change: -0.60% Day High: 419.1 Day Low: 411.1
If BP PLC experiences continued weakness below 411.1, it will invariably ……..
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View Previous BP PLC & Big Picture ***
LSE:FGP Firstgroup. Close Mid-Price: 164.2 Percentage Change: + 4.52% Day High: 164 Day Low: 152
Weakness on Firstgroup below 152 will invariably lead to 151 with seconda ……..
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View Previous Firstgroup & Big Picture ***
LSE:GLEN Glencore Xstra Close Mid-Price: 380.8 Percentage Change: -1.03% Day High: 383.4 Day Low: 378
If Glencore Xstra experiences continued weakness below 378, it will invar ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 186.15 Percentage Change: + 0.73% Day High: 186.35 Day Low: 182.2
Target met. In the event of British Airways enjoying further trades beyo ……..
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View Previous British Airways & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 25.8 Percentage Change: + 0.78% Day High: 26.3 Day Low: 24.4
Continued weakness against IQE taking the price below 24.4 calculates as ……..
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View Previous IQE & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 344.7 Percentage Change: + 0.82% Day High: 346 Day Low: 339.1
Further movement against Marks and Spencer ABOVE 346 should improve accel ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:TLW Tullow Close Mid-Price: 24.46 Percentage Change: -0.57% Day High: 24.9 Day Low: 24
In the event Tullow experiences weakness below 24 it calculates with a dr ……..
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View Previous Tullow & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 362.9 Percentage Change: + 0.33% Day High: 364.3 Day Low: 359.2
Further movement against Tesco ABOVE 364.3 should improve acceleration to ……..
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View Previous Tesco & Big Picture ***