FTSE for FRIDAY (FTSE:UKX), a Big Picture Perusal.#FTSE #TFIF It’s a useful exercise sometimes to step back and review the really big picture. This is often particularly advantageous, when things don’t feel like they are going as planned, a description which is more than apt when applied to the FTSE. So we’ve given a chart with a 30 year review. It’s worth remembering September is usually a pretty foul month on the markets, perhaps because most folk are shaking off their “holiday brain” and having some trouble getting fully involved in work.
A glance at the Big Picture chart shows there is currently a risk below 8240 points risking a push down to 8120 points with our secondary working out at a bottom of 7859 points. Given the index is presently around 8245, these are not massively frightening numbers and the secondary even calculates with colliding against the Red uptrend since 2020. But to cause real panic, the FTSE (from our perspective) needs below 7130 to generate serious concern and the index is actually miles away from such a level.
All this drama conceals the fact the UK index now needs below 5200 points to cause serious fright, below 7859 being the first convincing sign domino’s have started to fall.
Our converse stance, perhaps once September is over with ongoing improvements to interest rates, the FTSE now has the potential for some really strong movement. Visually, above 8500 points now implies a cycle commencing to an initial 9220 points and our secondary works out just over 10,000 points and an almost certain pause for thought. We’re in a ridiculous situation when the FTSE feels rotten but actually, looks great!
As for the near term, the FTSE is certainly at near term risk from the coming US payroll numbers, due at 1.30pm on Friday. It’s certainly worth bearing in mind the numbers, generated by government, are liable to be positive, due to the US government wanting to win the Nov 5th election. After all, positive Job Numbers, along with Interest Rate improvements can be flourished as proof the stance by the ruling Democrat government has actually worked, despite plenty of evidence to the contrary.
From an immediate perspective, it seems movement below 8220 risks triggering reversal to an initial 8190 points. Our secondary, should such a level break, calculates at 8120 points. Should this scenario kick into life, the tightest stop is quite wide at 8280 points.
Of course, due to the underlying trend for the FTSE currently being up, our alternate scenario suggests above 8286 points allows recovery to an initial 8319 points with our “longer term” secondary, if beaten, calculating at 8375 points.
Have a good weekend, despite the lack of a Formula One race…
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:14:52PM | BRENT | 7273 | 7232 | 7186 | 7747 | 7474 | 7569 | ||||
| 11:32:05PM | GOLD | 2516.4 | 2504 | 2498 | 2514 | 2524 | 2532 | Success | |||
| 11:35:24PM | FTSE | 8230 | 8215 | 8198 | 8256 | 8266 | 8313 | Shambles | |||
| 11:34:14PM | STOX50 | 4811.7 | 4807 | 4762 | 4832 | 4870 | 4876 | ‘cess | |||
| 11:36:34PM | GERMANY | 18589 | 18505 | 18455 | 18600 | 18681 | 18717 | ||||
| 11:41:29PM | US500 | 5500.9 | 5479 | 5451 | 5521 | 5547 | 5558 | ‘cess | |||
| 11:44:21PM | DOW | 40800.5 | 40633 | 40507 | 40832 | 40874 | 40976 | ||||
| 11:46:03PM | NASDAQ | 18867.9 | 18784 | 18545 | 19013 | 19112 | |||||
| 11:48:31PM | JAPAN | 36891 | 36438 | 36235 | 36791 | 37126 | 37260 |
5/09/2024 FTSE Closed at 8241 points. Change of -0.34%. Total value traded through LSE was: £ 5,242,721,349 a change of 2.61%
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% 
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:AML Aston Martin** **LSE:ASC Asos** **LSE:BP. BP PLC** **LSE:CAR Carclo** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:GRG Greggs** **LSE:IAG British Airways** **LSE:MKS Marks and Spencer** **LSE:NG. National Glib** **LSE:PHP Primary Health** **LSE:TERN Tern Plc** **LSE:TSCO Tesco** **LSE:VOD Vodafone** **
********
Updated charts published on : Aston Martin, Asos, BP PLC, Carclo, Gulf Keystone, Glencore Xstra, Greggs, British Airways, Marks and Spencer, National Glib, Primary Health, Tern Plc, Tesco, Vodafone,
LSE:AML Aston Martin. Close Mid-Price: 156.6 Percentage Change: + 3.50% Day High: 159.4 Day Low: 153.1
In the event of Aston Martin enjoying further trades beyond 159.4, the sh ……..
</p
View Previous Aston Martin & Big Picture ***
LSE:ASC Asos. Close Mid-Price: 434 Percentage Change: + 18.06% Day High: 453.8 Day Low: 380
Target met. All Asos needs are mid-price trades ABOVE 453.8 to improve ac ……..
</p
View Previous Asos & Big Picture ***
LSE:BP. BP PLC Close Mid-Price: 411.7 Percentage Change: -0.52% Day High: 415.25 Day Low: 410.6
Target met. Weakness on BP PLC below 410.6 will invariably lead to 407p w ……..
</p
View Previous BP PLC & Big Picture ***
LSE:CAR Carclo. Close Mid-Price: 37.3 Percentage Change: + 22.30% Day High: 39.6 Day Low: 32
Target met. Further movement against Carclo ABOVE 39.6 should improve acc ……..
</p
View Previous Carclo & Big Picture ***
LSE:GKP Gulf Keystone Close Mid-Price: 116.8 Percentage Change: -1.52% Day High: 119.2 Day Low: 116.5
Weakness on Gulf Keystone below 116.5 will invariably lead to 105p with s ……..
</p
View Previous Gulf Keystone & Big Picture ***
LSE:GLEN Glencore Xstra Close Mid-Price: 379.35 Percentage Change: -0.38% Day High: 382.95 Day Low: 376.85
Continued weakness against GLEN taking the price below 376.85 calculates ……..
</p
View Previous Glencore Xstra & Big Picture ***
LSE:GRG Greggs Close Mid-Price: 3144 Percentage Change: -0.82% Day High: 3200 Day Low: 3132
Continued trades against GRG with a mid-price ABOVE 3200 should improve t ……..
</p
View Previous Greggs & Big Picture ***
LSE:IAG British Airways. Close Mid-Price: 188.6 Percentage Change: + 1.32% Day High: 189.95 Day Low: 182.8
Target met. All British Airways needs are mid-price trades ABOVE 190 to ……..
</p
View Previous British Airways & Big Picture ***
LSE:MKS Marks and Spencer. Close Mid-Price: 345.9 Percentage Change: + 0.35% Day High: 349.4 Day Low: 341.5
Target met. Continued trades against MKS with a mid-price ABOVE 349.4 sho ……..
</p
View Previous Marks and Spencer & Big Picture ***
LSE:NG. National Glib. Close Mid-Price: 1020.5 Percentage Change: + 1.74% Day High: 1024.5 Day Low: 1004.5
Target met. Further movement against National Glib ABOVE 1024.5 should im ……..
</p
View Previous National Glib & Big Picture ***
LSE:PHP Primary Health. Close Mid-Price: 100 Percentage Change: + 1.88% Day High: 100.4 Day Low: 97.65
Further movement against Primary Health ABOVE 100.4 should improve accele ……..
</p
View Previous Primary Health & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 1.25 Percentage Change: -13.79% Day High: 1.4 Day Low: 1.25
Weakness on Tern Plc below 1.25 will invariably lead to 0.75p with second ……..
</p
View Previous Tern Plc & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 366.2 Percentage Change: + 0.91% Day High: 368 Day Low: 360.4
Target met. In the event of Tesco enjoying further trades beyond 368, the ……..
</p
View Previous Tesco & Big Picture ***
LSE:VOD Vodafone. Close Mid-Price: 78.18 Percentage Change: + 1.82% Day High: 78.64 Day Low: 76.5
Target met. All Vodafone needs are mid-price trades ABOVE 78.64 to improv ……..
</p
View Previous Vodafone & Big Picture ***