Trends And Targets

#Brent #SP500 The ‘Curse Of Oak Island’, a TV program, proves reminiscent of banking shares. The treasure hunt, now in its 8th year, has become a notorious drinking game with “points” when the narrator says “Could it be?”, “Knights Templar Treasure”, or the bonus “Ark of the Covenant”. The documentary focusses on an island off the coast of Nova Scotia, Canada and two brothers attempting to empty their bank accounts as they excavate for buried treasure. Surprisingly innovative holes in the ground tend to multiply, only exceeded by the number of theories as to why they cannot find anything.

The current “theory” is brilliant, suggesting the treasure vault must be a buried concrete room, one they dislodged and moved by hitting it with a big drill bit at some point. Their answer, “drill more holes!” and let off explosives to build a seismic map of the terrain.

Treasure hunting exploits on Oak Island are nothing new, even including an earlier US President as one of the searchers. Somehow or other, everyone ignores an inconvenient detail. Back in the 18th Century, a black man became one of the wealthiest men in Canada for reasons no-one knows. However, he did own a strip of land on Oak Island…

The UK’s retail banks feel like this TV program, always promising “something” but rarely delivering anything of value.

Natwest provides a perfect example. Currently, the share price needs exceed 236p, just to hint it’s showing some genuine recovery. Unfortunately, at present the best on offer is the possibility of movement next above 158p bringing slight recovery to an initial 165p. “Could it be”, if 165p is exceeded, there may be treasure hiding at 190p in the future?

Visually, the answer is “Yes” but such an ambition fails to ring any celebratory bells, coming nowhere close to the level at which real hope can be offered to long suffering investors in the retail bank which was once RBS.

Despite a share price of 155p currently, thanks to the 10:1 consolidation, this actually is 15.5p in old money. Despite the current potential of 190p on the immediate cycle, only with closure above Blue on the chart will we be provoked to mention of 365p as a valid (and distant) hope.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:29:51PM	BRENT	45.19	44.17	43.755	43.25	44.74	45.27	45.395	45.9	44.62	‘cess
10:31:32PM	GOLD	1871.63									‘cess
10:33:02PM	FTSE	6361									‘cess
10:48:56PM	FRANCE	5502.5									‘cess
10:51:11PM	GERMANY	13135
9:42:57PM	US500	3555	3544	3511.5	3469	3581	3585	3599	3617	3554
9:44:50PM	DOW	29227
9:46:39PM	NASDAQ	11909									Sorry

 

 

20/11/2020 FTSE Closed at 6351 points. Change of 0.27%. Total value traded through LSE was: £ 5,502,683,054 a change of -22.04%

19/11/2020 FTSE Closed at 6334 points. Change of -0.8%. Total value traded through LSE was: £ 7,058,313,031 a change of 4.8%

18/11/2020 FTSE Closed at 6385 points. Change of 0.31%. Total value traded through LSE was: £ 6,735,334,001 a change of -10.55%

17/11/2020 FTSE Closed at 6365 points. Change of -0.87%. Total value traded through LSE was: £ 7,529,482,132 a change of -4.74%

16/11/2020 FTSE Closed at 6421 points. Change of 1.66%. Total value traded through LSE was: £ 7,904,150,149 a change of 37.1%

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

#FTSE #DAX ‘Santa Rally’ sounds like a town south of LA and we’re at the time when ‘Santa’ speculation starts to rear its head on the stock markets. Is ‘Santa’ even real? There’s little doubt people are embracing the Xmas spirit early with exterior lights and even the odd Xmas tree appearing, doubtless due to many folk wanting cheered up as this awful year approaches an end. We’re starting to suspect this need for optimism may spread to the stock markets and thankfully, there are some fairly easy signs to watch for.

 

The UK’s AIM market, home of the eternal optimist, has already started the party with the FTSE:AXX describing higher levels than achieved before the March Covid-19 drop. This is pretty unusual, a feat currently beyond the FTSE, the DAX, and France’s CAC40. Across the Atlantic, the DOW is carefully attempting higher levels while the S&P500 has recoiled in shock following a couple of upward attempts. Visually, we suspect the concept of a ‘Santa Rally’ shall prove real this year, thanks to markets appearing to surge at the starting line.

The question as always; where’s the starting line anyway?

 

We’ve written previously about ‘Glass Ceilings’ and our preferred idiom, the Horizontal Trend. There’s absolutely no rule dictating a trend line should head up or down. Sometimes, the most important trend line, when identifying a trend break, is the horizontal one. Our preferred demand is for a market (or price) to actually close above the level of the Horizontal Trend to provide proof an instrument is actually about to move properly. In the case of the FTSE, this implies closing a session above 6509 points shall justify a party popper. For Germany and the DAX, the index needs close a session above 13,268 points.

For the AIM however, the Xmas tree is up, illuminated, and there are lights decorating the outside of the house. People may even be smiling!

Presently the AIM is trading around 1019 points, only requiring to exceed 1025 points to suggest a cycle is commencing toward 1233 points. A 20% rise on the junior market cannot be sneezed at, despite it being winter. Given the rate of acceleration during the last month, if this pace continues our target level should appear around Xmas time. This has fairly significant implications for members of the AIM, when this sort of acceleration occurs, bounces and surges tend be quite flamboyant, exceeding expectations.

Importantly, should the FTSE itself manage above our 6509 trigger level, our thoughts against the AIM shall improve to “Print This Out, compare with what actually happens!”

FTSE for FRIDAY (FTSE:UKX)  We remain quite proud of how widely read our Friday FTSE article is, quite literally worldwide. Apparently we’re a thing in UAE currently as the Emirates is 3rd of the list of international visitors. Good old Reunion island remains in the Top 10, clinging on at #9.

The FTSE closed the session on Thursday at 6333 points, now requiring above 6378 to signal the potential of some proper recovery. Such a movement calculates with an initial ambition of 6428 points with secondary, if exceeded, a rather more impressive 6476 points. Visually, this should position the UK market for further upward nudges next week. If this scenario triggers, the tightest “safe” stop loss level looks wide at 6313 points.

Alternately, below 6283 becomes problematic, allowing weakness to establish to an initial 6233 with secondary, if broken, at 6156 points.

What does Friday hold? Very difficult to say, thanks to the UK market spending the last 4 days effectively doing nothing except pretend to breathe.

Have a good weekend.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:39:54PM	BRENT	44.26	43.88	43.46		44.54	44.67	44.9		44.21
10:41:28PM	GOLD	1866.33	1852	1846.5		1867	1871	1874.5		1863	‘cess
10:42:58PM	FTSE	6354.39	6309	6284		6350	6370	6380.5		6330
10:44:36PM	FRANCE	5499.8	5459	5440		5496	5501	5510.5		5463	Shambles
10:50:59PM	GERMANY	13103	13031	12967		13131	13156	13179.5		13070
10:52:33PM	US500	3567.25	3544	3501		3586	3586	3598		3552
10:54:18PM	DOW	29385	29235	29136.5		29433	29522	29547		29360	‘cess
11:04:00PM	NASDAQ	11970	11804	11725.5		11905	12002	12045.5		11936	‘cess
11:06:28PM	JAPAN	25446	25425	25343		25561	25634	25715		25487

19/11/2020 FTSE Closed at 6334 points. Change of -0.8%. Total value traded through LSE was: £ 7,058,313,031 a change of 4.8%

18/11/2020 FTSE Closed at 6385 points. Change of 0.31%. Total value traded through LSE was: £ 6,735,334,001 a change of -10.55%

17/11/2020 FTSE Closed at 6365 points. Change of -0.87%. Total value traded through LSE was: £ 7,529,482,132 a change of -4.74%

16/11/2020 FTSE Closed at 6421 points. Change of 1.66%. Total value traded through LSE was: £ 7,904,150,149 a change of 37.1%

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

#Gold #SP500 It’s that time of year, when the UK phenomena of Panto used to rear its ugly head. A less unfortunate side effect of Covid-19 appears to be a lack of these contrivances, the ponzi scheme of paying a Celeb to headline a filled theatre with a lacklustre show. In some ways, it’s a pity as “Cinderella” immediately sprung to mind when reviewing whatever Glencore is trying to achieve.

What’s surprising about Glencore is, when we review their contemporaries – and the mining sector – Glencore share price should presently be trading around 225p rather than languishing below 2 quid. Thus far, when it comes to price recovery, Glencore has not gone to the ball, nor even appears to know it’s on! This is a bit of a pity, thanks to the share price illustrating some really strong longer term potentials, if it would only start actually going up.

 

Visually, there’s something going on at the 200p level suggesting this may be a potential trigger for strong growth but given Glencores often letharic behaviour, we’re inclined to modify our usual criteria for a price movement. Suspecting this shall also require the FTSE poised to join the fun, only if the UK index exceeds 6,509 points while Glencore betters 220p dare we start believing some strong travel is coming. In this game plan, we’re able to calculate the potential of 284p making an initial appearance with secondary, if exceeded, working out at a distant 368p.

 

For it all to go wrong for Glencore, the share price needs slop below 150p as this risks reversal to an initial 134p with secondary, when broken, at a bottom of 114p. The visuals suggest this is unlikely.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:12:33PM	BRENT	44.28									‘cess
10:14:17PM	GOLD	1872.42	1863	1860	1847	1881	1885	1888	1895	1873
10:16:13PM	FTSE	6323									Shambles
10:18:00PM	FRANCE	5468.2									‘cess
10:40:14PM	GERMANY	13106									‘cess
10:43:03PM	US500	3562.27	3558	3541.5	3509	3596	3628	3638.5	3650	3588	Success
10:45:36PM	DOW	29431.7									‘cess
10:47:45PM	NASDAQ	11869									‘cess
10:50:01PM	JAPAN	25585									Success

18/11/2020 FTSE Closed at 6385 points. Change of 0.31%. Total value traded through LSE was: £ 6,735,334,001 a change of -10.55%

17/11/2020 FTSE Closed at 6365 points. Change of -0.87%. Total value traded through LSE was: £ 7,529,482,132 a change of -4.74%

16/11/2020 FTSE Closed at 6421 points. Change of 1.66%. Total value traded through LSE was: £ 7,904,150,149 a change of 37.1%

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%

#FTSE #CAC40 Thankfully, a couple of emails asked about Mti Wireless Edge, saving us the hardship of exploring numerous shares in an attempt to find something interesting to write about! To be fair, a few throwaway comments regarding 5G tech had already suggested we should take a hard look at this share price and now, movements in November justify the effort.

 

A visit to MTI’s website to explore why their 5g involvement is worth paying attention to was fascinating. Two terms, which caused immediate confusion were ‘Fronthaul’ and ‘Backhaul’, clearly buzzwords which mean a lot to people in the industry but otherwise, pretty meaningless. Unfortunately, MTI regard their work in the field as pretty revolutionary but despite visiting several publications to try and clarify what the heck we were reading, the concept remained mercilessly obscure.

Eventually, we decided ‘Fronthaul’ engineers could get rained upon, working outside. Whereas ‘Backhaul’ engineers stay dry…

Rather more importantly than the dodgy graphic, MTI’s share price is looking capable of some positive movement. Near term, growth above 54p calculates as capable of 58p next, a relatively useless (and fairly tame) ambition but there’s an important feature should such a twitch occur. The share price need only close above 54.5p to present a new all time high, entering a region where a viable long term aspiration of 107p works out at possible.

At present, the share price is right on the edge of greatness and despite three quite separate and distinct criteria pointing at 58p (this sort of thing generally suggests the target shall be achieved), we’re far more interested in the longer term potentials of the price almost doubling. Perhaps MTI are worthy of some research, though good luck trying to understand anything about their specialist field.

 

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:20:15PM	BRENT	43.92
10:22:24PM	GOLD	1880.77
10:25:19PM	FTSE	6354.92	6314	6291	6233	6355	6378	6401	6432	6345
10:27:12PM	FRANCE	5491	5440	5415	5385	5471	5506	5516.5	5542	5481
10:29:43PM	GERMANY	13121									‘cess
10:31:40PM	US500	3607.17
10:35:03PM	DOW	29783									‘cess
10:37:21PM	NASDAQ	11977.87
10:40:18PM	JAPAN	25947

17/11/2020 FTSE Closed at 6365 points. Change of -0.87%. Total value traded through LSE was: £ 7,529,482,132 a change of -4.74%

16/11/2020 FTSE Closed at 6421 points. Change of 1.66%. Total value traded through LSE was: £ 7,904,150,149 a change of 37.1%

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%

9/11/2020 FTSE Closed at 6186 points. Change of 4.67%. Total value traded through LSE was: £ 10,308,149,323 a change of 68%

#Gold #Dax We’re interested in the differing potentials against each of these shares. Essentially, packaging supplier DS Smith Plc look very capable of an increase in share price, doubtless reflecting the massive increase in online shopping during the pandemic. Online shopping giant, Ebay, on the other hand, appear to be suffering, thanks to repeated speculation of a Covid-19 cure.

This conflict of signals certainly justifies some scepticism for the long term future with DSSmith and we’re inclined to emplace a ‘safe’ trigger level against the share, essentially saying ‘only if the share price gets above this level shall we be convinced bottom is “in”.’  For DS Smith, presently trading around 341p, this implies a need for the share to exceed 376p to trigger a scenario, where longer term recovery toward 462p calculates as possible. Should such a level be exceeded, our secondary calculates at 543p and almost certain hesitation in any growth cycle.

For it all to go wrong, utterly wrong, the share needs retreat below 267p as this opens the gates toward 179 initially with secondary, if broken, at a bottom (hopefully) of 78p.

We’ve received a few emails regarding DS Smith and unfortunately, we’re a little concerned, due to their share price behaviour since 2018. Thus far, Covid-19 and increased demand for packaging appears not to be helping the price.

eBay (Nasdaq:eBay) It’s always tempting to use the term “Auction Site” when discussing eBay but reality nowadays is quite different. Instead, we suspect most people use eBay as a convenient place to shop from online retailers. A recent personal experience with “eBay Checkout” revealed an eclectic range of purchases, comprising Joint Supplements for Dogs, Worktop Joining clamps, Toyota Key Fob battery, a Solid State hard disk, and Classical Guitar strings. Not one of the purchases involved the thrill (aka inconvenience) of an auction, instead reflecting the results of a todo list. Prior to Covid-19, it’s likely 4 of these 5 items would have been purchased from conventional retailers with only a laptop hard disk being sourced online.

 

With the threat of a return to normality, eBay share price is already showing signs of nerves, doubtless due to fears the public shall urgently embrace the joy of visiting shops. From a personal viewpoint, perhaps influenced by our geographic location, we’re not entirely convinced. While nothing replaces the pleasure of visiting a music shop, constantly wondering which guitar needs purchased in the never ending search to find one which works, our UK post and packaging service has proven up to the task of a change in habits with delivery guys finding truly innovative ways of hiding boxes n delivery.

Leaving a car unlocked worked for most drivers and finding a box on the drivers seat stopped being a novelty. Opening the tailgate and finding a package under the dog rug was equally unexpected. Looking out the window and spotting a neighbour in the driveway, opening the car door to retrieve HER box, was actually irritating. Her excuse, ‘she always locks her car’, was especially annoying given we stay in an area where theft of birdseed by a Grey Squirrel will make the local newspaper.

 

The situation at eBay looks like weakness next below 45 dollars risks reversal to an initial $42 with secondary, if broken, calculating at a bottom of $33. To be fair, if this reversal cycle commences, we’d hope for a rebound before the $33 mark appears, ideally around the $37 price level. The share price needs above $52 to cancel this scenario.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:44:14PM	BRENT	44.05									Success
10:46:29PM	GOLD	1889.22	1864	1855.5	1819	1891	1897	1907.5	1922	1884	‘cess
10:50:18PM	FTSE	6424									Success
10:52:45PM	FRANCE	5480									Success
10:54:47PM	GERMANY	13160	13079	13053.5	12978	13152	13190	13220.5	13268	13125	Success
11:00:03PM	US500	3632.77									Success
11:02:27PM	DOW	29956									Success
11:04:34PM	NASDAQ	12083
11:06:32PM	JAPAN	26128									Success

16/11/2020 FTSE Closed at 6421 points. Change of 1.66%. Total value traded through LSE was: £ 7,904,150,149 a change of 37.1%

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%

9/11/2020 FTSE Closed at 6186 points. Change of 4.67%. Total value traded through LSE was: £ 10,308,149,323 a change of 68%

6/11/2020 FTSE Closed at 5910 points. Change of 0.07%. Total value traded through LSE was: £ 6,135,966,574 a change of 1.03%

#BrentCrude #Nasdaq Midway through November, America almost has a new President, Covid-19 is nearly cured, the UK PM is being locked away for a few weeks, and ‘I’m A Celebrity’ is back on TV! Could we be approaching the end of 2020 with a plethora of positive vibes forcing itself upon us. Our previous glance at Lloyds (link) certainly proved correct with our secondary target level being exceeded.

As a result, we’re using this weeks visit to a retail bank as a “what if” scenario, as in “what if” the good news keeps coming, ideally with “I’m A Nonentity” being cancelled. In this particular household, the theme music is sufficient to remind the dogs need walked immediately, the car needs washed, or even can the grass be cut in darkness while it’s raining, while wishing the mower was electric. As can be guessed, the half of the household clutching the TV box remote believes the rubbish from a Welsh castle is essential viewing.

 

Kidding aside, Lloyds Banking Group are very nearly at the point of justifying some real optimism for the longer term. The immediate situation suggests ongoing travel beyond 35.09p should head up to 38p and at this level, life starts to become very interesting. The share price will require closure above 38p to confirm 2020’s visual Glass Ceiling has broken, allowing further recovery in the direction of a future 50p with secondary, if bettered, being the subject of considerable debate in-house.

If we go by software criteria alone, the secondary should be presented as 92p. This is due the share price finally closing above Blue on the chart, a downtrend dating back to 2007. In normal times, we tend expect rates of recovery acceleration to be influenced by the levels at which such a downtrend commenced. In the case of Lloyds, the implication is quite suspect above 6 quid. Obviously, times are not normal and if we opt to balance expectations with share price behaviour during 2020, our secondary target level calculates at a sane looking 61p.

The surprising visual detail from such a secondary ambition is 61p is virtually a pivot level, a share price above and below the bank has been cavorting for the last ten years. As a result, an ambition of 61p makes a lot of sense and should such miracle recovery appear, common sense alone demands we revisit our numbers to project where a proper long term target may reside. For the sake of providing a ‘clickbait’ teaser, it’s already possible to calculate some amazing potentials with 156p allegedly viable in the distance, along with proof Santa Claus is real.

A word of warning. Lloyds needs only sink below 30p to turn this Big Picture scenario into mush as a future retreat below the Blue trend line would be a really bad thing.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
1:44:47PM	BRENT	42.8	42.68	42.445	41.47	43.43	43.63	43.835	44.22	42.74	‘cess
1:46:55PM	GOLD	1890.12
1:55:17PM	FTSE	6340
1:59:20PM	FRANCE	5406									Success
2:02:06PM	GERMANY	13120									Success
2:04:54PM	US500	3585.92
2:07:06PM	DOW	29488									‘cess
2:09:09PM	NASDAQ	11950	11810	11750.5	11684	11886	11951	12141	12348	11817
2:11:48PM	JAPAN	25610									‘cess

13/11/2020 FTSE Closed at 6316 points. Change of -0.35%. Total value traded through LSE was: £ 5,765,436,391 a change of -7.44%

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%

9/11/2020 FTSE Closed at 6186 points. Change of 4.67%. Total value traded through LSE was: £ 10,308,149,323 a change of 68%

6/11/2020 FTSE Closed at 5910 points. Change of 0.07%. Total value traded through LSE was: £ 6,135,966,574 a change of 1.03%

5/11/2020 FTSE Closed at 5906 points. Change of 0.39%. Total value traded through LSE was: £ 6,073,393,491 a change of 24.88%

#FTSE #Gold Every time it feels like the Covid-19 days are easing, something new comes along and bites hard. Today, a routine visit to the hospital went pretty badly wrong, thanks to a bad head cold. As someone already with a compromised immune system, considerable effort has been made this year to remain “clean” but at the hospital reception desk, everyone became quite animated when I admitted I’d coughed a few times.

Suddenly in an isolation room, a nurse attached plumbing pipework to my arm to take bloods. This device, known as a cannula, always provokes a sinking feeling as it’s clear more than one tube of blood is intended in the hours ahead. In fact, it’s always a surprise old Vampire movies didn’t feature this gadget as it provides easy, on demand, blood. The hospital staff didn’t mess around with the potential risk presented, refusing to relax until results came back from the lab, my chest stethoscoped, and a chest X-ray just for good measure. My explanation of the current chemotherapy regime tending to exaggerate everything was certainly heeded but ignored, the nurses preferring a sensible ‘better safe than sorry’ approach.

 

Unsurprisingly, this is all rather pertinent to the FTSE! Nerves remain present in the world.

The first 9 sessions of this month proved remarkably positive with only Thursday 12th showing some (very slight) hesitation. But it’s easy to fear things suddenly going horribly wrong, should the pandemic come around to bite again. An worrying feature remains Pfizer share price, starting this week with some extremely strong movements. Unfortunately, aside from the opening movement on Monday, the share price has declined daily, now looking like it intends to bottom at 35 dollars. Somehow or other, we’d hoped a company capable of issuing “We’ve Saved The World” news would perform with greater aplomb than displayed?

FTSE for FRIDAY. We’re inclined to take this lack of lustre as a warning, perhaps the FTSE itself risks losing some of its recent shine. But before we dive into a bucket of misery, there’s an important detail worthy of consideration. The FTSE requires to slip below 5890 points to justify “headless chicken” mode. At present, nothing calculates with this risk.

Near term, we shall be mildly concerned if the UK market meanders below 6261 points as this calculates with a reversal potential of 6216 points initially. If broken, our secondary ‘longer term’ number works out at 6071 points and hopefully a bounce. Unfortunately, if this scenario triggers, the tightest stop level is quite absurd at 6350 points.

More likely, if feels like movement anytime soon above 6404 points should provoke FTSE growth toward 6506 points initially with secondary, if exceeded, calculating at 6560 points. Visually we’d anticipate some hesitation around the 6500 level.

Have a good weekend and remember, you can cover a discrete cough with a really loud fart. How the tables have turned on society…

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:09:09PM	BRENT	43.47	43.37	42.9		44.44	44.67	45.9775		43.4
10:11:12PM	GOLD	1877.33	1855	1839		1873	1886	1898.5		1873
10:13:54PM	FTSE	6290	6269	6252.5		6303	6370	6398		6306
10:16:24PM	FRANCE	5328	5313	5274		5345	5384	5398		5347	Success
10:18:36PM	GERMANY	12991	12934	12901		13021	13048	13066.5		13017	Success
10:22:40PM	US500	3542	3534	3512		3551	3572	3595.5		3543	Success
10:25:32PM	DOW	29143	28893	28834.5		29220	29336	29527		29091	Success
10:30:11PM	NASDAQ	11865	11774	11592.5		11984	11984	12042		11821	‘cess
10:32:11PM	JAPAN	25317	25207	25127.5		25344	25531	25609.5		25360

 

 

12/11/2020 FTSE Closed at 6338 points. Change of -0.69%. Total value traded through LSE was: £ 6,228,749,824 a change of -14.5%

11/11/2020 FTSE Closed at 6382 points. Change of 1.37%. Total value traded through LSE was: £ 7,285,360,300 a change of -18.94%

10/11/2020 FTSE Closed at 6296 points. Change of 1.78%. Total value traded through LSE was: £ 8,987,595,429 a change of -12.81%

9/11/2020 FTSE Closed at 6186 points. Change of 4.67%. Total value traded through LSE was: £ 10,308,149,323 a change of 68%

6/11/2020 FTSE Closed at 5910 points. Change of 0.07%. Total value traded through LSE was: £ 6,135,966,574 a change of 1.03%

5/11/2020 FTSE Closed at 5906 points. Change of 0.39%. Total value traded through LSE was: £ 6,073,393,491 a change of 24.88%

4/11/2020 FTSE Closed at 5883 points. Change of 1.68%. Total value traded through LSE was: £ 4,863,439,336 a change of 7.3%