#FTSE #GOLD The FTSE appears to have broken trend and not in a good way. While the UK’s recent budget would be easy to blame for the market decline, if only due to the government opting to increase the tax on jobs created to 15%. Employers National Insurance Contribution (ENIC) is often felt to be a particularly unfair tax, a fee payable regardless of the income or profit level of a company, quite literally a penalty for every job created and probably the definition of “stealth tax” simply due to the naming convention. It’s also been noted the VAT rate has not been moderated from its emergency lift to 20%, this tax originally levied to produce the UK’s contribution to the European Union and despite the country no longer being a member, VAT remains at punitive levels.
And worse, we still suffer idiotic EU rules as witnessed by these awful bottle top ties…
At best, we can only guess the markets are flopping around as due to ridiculous USA election fever, the markets completely failing to know how to react from one day to the next. Thursday, with Democrat biased CNN producing large swings for Harris at the obvious expense of Trump, giving markets everywhere an excuse for a decline. The Dow Jones, for instance, finished the session at 41,763 and in a zone where the next few days points to a potential bottom of 40,600 points, a nice tidy 1,000+ point gift across the next few sessions. The only problem, there’s a US Presidential election blocking the path, promising making the 5th November fireworks quite spectacular while the real thing breaks out across the pond. Our worry comes from the number of Democrat leaders in multiple US states calling Trump the next Hitler. As a result, it becomes very possible some states shall create a situation where they refuse to certify “Hitler” as their next president, causing fireworks!
The FTSE appears to have joined world markets in being nervous about North America and there’s still time for a surprise recovery before a painful plunge. From our perspective, any surprise recovery requires exceed 8,150 to derail a drop to 8,046 and a fake bounce but, should 8,046 break, we shall anticipate the UK experiencing a bottom at an eventual 7,971 points and a bounce. In this scenario, it looks possible a stop loss level at 8,150 shall prove sane, if we work on the basis some sort of fake short term bounce is ahead.
Of course, the question must be asked of what to expect, should 8,150 be exceeded?
In such a scenario, we can calculate the potential of a lift to an initial 8,255 points with our secondary, if bettered, at 8.333 points. Overall, this dumps the UK index in a zone where an eventual breakout to 8,502 points becomes possible, perhaps suggesting the US has indeed elected Guy Fawkes as president. As always, we live in interesting times and with the Brazilian Grand Prix, the weekend might be interesting!
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:39:29PM | BRENT | 7399.7 | 7090 | 6986 | 7278 | 7431 | 7489 | 7224 | ‘cess | ||
| 11:43:53PM | GOLD | 2747.05 | 2746 | 2723 | 2760 | 2758 | 2760 | 2744 | Success | ||
| 11:40:11PM | FTSE | 8127.8 | 8071 | 8043 | 8168 | 8211 | 8254 | 8146 | ditto | ||
| 11:43:43PM | STOX50 | 4828.8 | 4803 | 4767 | 4856 | 4859 | 4878 | 4826 | ditto | ||
| 11:48:22PM | GERMANY | 19091.7 | 19005 | 18920 | 19184 | 19191 | 19260 | 19092 | ditto | ||
| 11:52:39PM | US500 | 5712 | 5700 | 5664 | 5737 | 5737 | 5746 | 5704 | ditto | ||
| 11:57:18PM | DOW | 41810 | 41699 | 41323 | 41984 | 42037 | 42131 | 41841 | ditto | ||
| 12:01:15AM | NASDAQ | 19948 | 19878 | 19730 | 20002 | 20280 | 20427 | 20150 | ditto | ||
| 12:05:21AM | JAPAN | 38305 | 38115 | 37979 | 38365 | 38787 | 38998 | 38620 | ditto |
31/10/2024 FTSE Closed at 8110 points. Change of -0.6%. Total value traded through LSE was: £ 6,729,759,967 a change of 2.02%
30/10/2024 FTSE Closed at 8159 points. Change of -0.73%. Total value traded through LSE was: £ 6,596,818,520 a change of 3.77%
29/10/2024 FTSE Closed at 8219 points. Change of -0.8%. Total value traded through LSE was: £ 6,356,988,335 a change of 37.02%
28/10/2024 FTSE Closed at 8285 points. Change of 1.68%. Total value traded through LSE was: £ 4,639,447,546 a change of -2.07%
25/10/2024 FTSE Closed at 8148 points. Change of -1.46%. Total value traded through LSE was: £ 4,737,422,038 a change of -5.81%
24/10/2024 FTSE Closed at 8269 points. Change of 0.13%. Total value traded through LSE was: £ 5,029,789,282 a change of 1.28%
23/10/2024 FTSE Closed at 8258 points. Change of -0.58%. Total value traded through LSE was: £ 4,966,414,850 a change of 16.11% 
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:BME B & M** **LSE:CCL Carnival** **LSE:DGE Diageo** **LSE:EMG MAN** **LSE:FOXT Foxtons** **LSE:HIK Hikma** **LSE:SPT Spirent Comms** **LSE:SPX Spirax** **LSE:STAN Standard Chartered** **LSE:TRN The Trainline** **
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Updated charts published on : B & M, Carnival, Diageo, MAN, Foxtons, Hikma, Spirent Comms, Spirax, Standard Chartered, The Trainline,
LSE:BME B & M Close Mid-Price: 387.6 Percentage Change: -3.41% Day High: 400.8 Day Low: 384.8
Target met. Continued weakness against BME taking the price below 384.8 c ……..
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View Previous B & M & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1557 Percentage Change: + 2.17% Day High: 1595 Day Low: 1522.5
Target met. Continued trades against CCL with a mid-price ABOVE 1595 shou ……..
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View Previous Carnival & Big Picture ***
LSE:DGE Diageo Close Mid-Price: 2399 Percentage Change: -2.08% Day High: 2420.5 Day Low: 2381.5
Weakness on Diageo below 2381.5 will invariably lead to 2312 and hopefull ……..
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View Previous Diageo & Big Picture ***
LSE:EMG MAN Close Mid-Price: 198.6 Percentage Change: -0.40% Day High: 199.5 Day Low: 197
If MAN experiences continued weakness below 197, it will invariably lead ……..
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View Previous MAN & Big Picture ***
LSE:FOXT Foxtons Close Mid-Price: 58.8 Percentage Change: -2.97% Day High: 59.8 Day Low: 58
If Foxtons experiences continued weakness below 58, it will invariably le ……..
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View Previous Foxtons & Big Picture ***
LSE:HIK Hikma Close Mid-Price: 1855 Percentage Change: -2.47% Day High: 1901 Day Low: 1840
Continued weakness against HIK taking the price below 1840 calculates as ……..
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View Previous Hikma & Big Picture ***
LSE:SPT Spirent Comms Close Mid-Price: 168 Percentage Change: -1.12% Day High: 170 Day Low: 166.2
In the event Spirent Comms experiences weakness below 166.2 it calculates ……..
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View Previous Spirent Comms & Big Picture ***
LSE:SPX Spirax Close Mid-Price: 6455 Percentage Change: -1.22% Day High: 6545 Day Low: 6420
Target met. If Spirax experiences continued weakness below 6420, it will ……..
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View Previous Spirax & Big Picture ***
LSE:STAN Standard Chartered Close Mid-Price: 900.4 Percentage Change: -1.34% Day High: 918.4 Day Low: 894.2
All Standard Chartered needs are mid-price trades ABOVE 918.4 to improve ……..
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View Previous Standard Chartered & Big Picture ***
LSE:TRN The Trainline. Close Mid-Price: 389.2 Percentage Change: + 3.46% Day High: 388.6 Day Low: 373.6
All The Trainline needs are mid-price trades ABOVE 388.6 to improve accel ……..
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View Previous The Trainline & Big Picture ***