FTSE for FRIDAY (FTSE:UKX)
Our impoverished British Prime Minister, reduced to accepting donations of clothes and spectacles for his family once he took office, now appears to be plumbing a new low, something the Americans even have coined a phrase for. “Stolen Valour” is currently being used to describe one of the Vice President nominations, a bloke who claims to have been in war and also, to have left the US army at a rank he’d not actually achieved. Personally, while being fairly dispassionate about the whole thing, it was with a bit of a shock when the UK Prime Minister claimed a family member had been aboard a ship which was torpedoed during the Falklands war. Unless his uncle was fighting for Argentina, those of us who lived through that period will remember absolutely NO British vessels were sunk by torpedo.
To be honest, when news of an Argentinean ship being sunk appeared, it was a fairly scary moment for those of us gathered in a pub that Tuesday evening, jointly worried if conscription was about to be inflicted on younger males of a draftable age. But unless the Prime Ministers relative was working for the Argentineans, it’s unlikely he was torpedoed, though it would go some way to explaining the fury – at the time – from certain members of the Labour Party who seemed to think such an event was “just not fair”.
Tonight, it was tempting to steal someone else’s photograph of the Aura Borealis on Thursday evening. The show was substantially better than the display last May as this time, curtains of light were clearly visible in the sky above Argyll, amazing colours appearing then vanishing, along with what looked like jet contrails crossing the sky from East to West. As a “sensible” photographer, a camera is always ready to be grabbed and this time, my fancy Nikon was pulled off the shelf. Shown below, green lights moving above the trees, utterly concealing how impressive the evening was. It appears to use my model of Nikon successfully at night, a degree in photography would help. The camera can do a close up of an aircraft at 40,000 feet, just by using the zoom button but night-time snapshots are a little challenging. Hence, considering committing the crime of “Stolen Snapshots” to try and illustrate an event which finally gave an understanding as to why folk drool about Aurora Borealis. On the plus side, no-one is going to steal the photo below as it’s a bit rubbish.
It’s interesting to note, since the previous Aurora event in May 2024, the FTSE has hardly moved, fluttering above and below the 8300 point level. In the same period, the DOW has gained 3,000 points while Germany managed a 1,000 point gain. Even France has been worthy of comment, unfortunately due to the index sinking by 500 points. But for the UK, we’re worried at the markets ability to effectively flatline for 5 months. Perhaps everyone is waiting for our obviously impoverished Prime Minister to make an appearance at the gates of Downing St, busking on a banjo about his old Uncle Albert in the Navy. All he needs is someone to donate a big hat for begging.
Anyway, returning to the FTSE, we’re obviously extremely frustrated at the lack of imaginative movement for the recent 5 months. Visually, if it were a share, we’d be pretty comfortable it was simply awaiting the correct set of circumstances to head upward and paint new all time highs. To be fully ridiculous, we need to admit the FTSE index value is now regarded as trading in a zone where a future attraction is coming from 10,190 points. This is a significant number when compared with current price levels. The obvious worry with such halts in market gains is the old threat, “if it ain’t goin’ up, it’s goin’ down.”. Generally, when a share price experiences this sort of hesitation, any downward movement tends be short lived, the market being surprised by quite coherent recovery and gains.
From a nearer term perspective, the salient detail the FTSE hasn’t actually done anything since May 2024 is proving extremely frustrating., creating a situation where below 8220 points now threatens reversal to an initial 8146 with our secondary, if broken, at the possibility of joining Prime Minister Starmer on the pavement, begging for a low of 8089 points. If triggered, the tightest stop looks attractive at 8236 points.
Our alternate scenario allows above 8274 points triggering gains to an initial 8327 points with our secondary, if beaten, at an amazing 8459 points!.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:46:56PM | BRENT | 7902 | 7672 | 7551 | 7413 | 7806 | 7966 | 8138 | 8344 | 7865 | ‘cess |
| 10:12:48PM | GOLD | 2629.27 | 2603 | 2593 | 2580 | 2619 | 2632 | 2637 | 2643 | 2617 | ‘cess |
| 10:18:30PM | FTSE | 8252.8 | 8216 | 8193 | 8164 | 8243 | 8280 | 8300 | 8339 | 8256 | |
| 10:22:08PM | STOX50 | 4978.3 | 4949 | 4929 | 4907 | 4969 | 4988 | 4998 | 5015 | 4965 | |
| 10:50:25PM | GERMANY | 19226.5 | 19143 | 19131 | 19072 | 19243 | 19291 | 19381 | 19540 | 19218 | |
| 11:05:09PM | US500 | 5782.6 | 5763 | 5758 | 5745 | 5780 | 5795 | 5808 | 5823 | 5770 | |
| 11:09:25PM | DOW | 42475 | 42300 | 42245 | 42136 | 42428 | 42550 | 42582 | 42676 | 42430 | |
| 11:13:52PM | NASDAQ | 20246 | 20114 | 20089 | 20011 | 20320 | 20320 | 20367 | 20451 | 20183 | |
| 11:16:52PM | JAPAN | 39390 | 38871 | 38860 | 38576 | 39130 | 39509 | 39682 | 39949 | 39216 | Success |
10/10/2024 FTSE Closed at 8237 points. Change of -0.07%. Total value traded through LSE was: £ 4,747,138,967 a change of 12.51%
9/10/2024 FTSE Closed at 8243 points. Change of 0.65%. Total value traded through LSE was: £ 4,219,173,545 a change of -36.61%
8/10/2024 FTSE Closed at 8190 points. Change of -1.36%. Total value traded through LSE was: £ 6,655,496,813 a change of 41.95%
7/10/2024 FTSE Closed at 8303 points. Change of 0.28%. Total value traded through LSE was: £ 4,688,627,065 a change of -10.63%
4/10/2024 FTSE Closed at 8280 points. Change of -0.02%. Total value traded through LSE was: £ 5,246,156,906 a change of -2.97%
3/10/2024 FTSE Closed at 8282 points. Change of -0.1%. Total value traded through LSE was: £ 5,406,589,998 a change of 0.25%
2/10/2024 FTSE Closed at 8290 points. Change of 0.17%. Total value traded through LSE was: £ 5,393,073,396 a change of -18.14% 
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:AFC AFC Energy** **LSE:CCL Carnival** **LSE:ECO ECO (Atlantic) O & G** **LSE:FRES Fresnillo** **LSE:MKS Marks and Spencer** **LSE:OXIG Oxford Instruments** **LSE:SPX Spirax** **
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Updated charts published on : AFC Energy, Carnival, ECO (Atlantic) O & G, Fresnillo, Marks and Spencer, Oxford Instruments, Spirax,
LSE:AFC AFC Energy Close Mid-Price: 8.5 Percentage Change: -8.60% Day High: 9.04 Day Low: 7.51
Target met. Weakness on AFC Energy below 7.51 will invariably lead to 6.2 ……..
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View Previous AFC Energy & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1420 Percentage Change: + 1.25% Day High: 1424.5 Day Low: 1370.5
In the event of Carnival enjoying further trades beyond 1424.5, the share ……..
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View Previous Carnival & Big Picture ***
LSE:ECO ECO (Atlantic) O & G Close Mid-Price: 10.6 Percentage Change: -3.64% Day High: 11 Day Low: 10.62
Weakness on ECO (Atlantic) O & G below 10.62 will invariably lead to 9.4p ……..
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View Previous ECO (Atlantic) O & G & Big Picture ***
LSE:FRES Fresnillo. Close Mid-Price: 654 Percentage Change: + 3.48% Day High: 650 Day Low: 627
Further movement against Fresnillo ABOVE 650 should improve acceleration ……..
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View Previous Fresnillo & Big Picture ***
LSE:MKS Marks and Spencer Close Mid-Price: 379.9 Percentage Change: -0.78% Day High: 383.5 Day Low: 377.3
Further movement against Marks and Spencer ABOVE 383.5 should improve acc ……..
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View Previous Marks and Spencer & Big Picture ***
LSE:OXIG Oxford Instruments Close Mid-Price: 1948 Percentage Change: -2.40% Day High: 1992 Day Low: 1956
If Oxford Instruments experiences continued weakness below 1956, it will ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 6910 Percentage Change: -1.14% Day High: 6985 Day Low: 6860
Target met. If Spirax experiences continued weakness below 6860, it will ……..
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View Previous Spirax & Big Picture ***