{"id":1181,"date":"2019-08-29T23:18:29","date_gmt":"2019-08-29T22:18:29","guid":{"rendered":"http:\/\/www.trendsandtargets.com\/?p=1181"},"modified":"2019-08-30T08:21:51","modified_gmt":"2019-08-30T07:21:51","slug":"ftse-for-30-08-2019","status":"publish","type":"post","link":"http:\/\/www.trendsandtargets.com\/index.php\/2019\/08\/29\/ftse-for-30-08-2019\/","title":{"rendered":"FTSE for 30\/08\/2019"},"content":{"rendered":"\n

#CAC40 #DOW<\/strong> It was amusing, seeing the UK stock market celebrate the resignation of Ruth Davidson (their “leader” in Scotland) with a fairly substantial upward day. Her main claim to fame was eradicating the word “Conservative” from leaflets, replacing it with the silly ‘Ruth Davidsons Party’. Vote share didn’t change, even slightly, and the Conservatives remained languishing in the gutter, out of power in Scotland since 1955. Somehow, the media never mention that detail. Then again, perhaps the UK market rise was influenced by Trump and his stance against China as he once again made a tariff threat, trashed the markets, allegedly rescinded the threat, and markets were happy again.<\/p>\n\n\n\n

Or are they?<\/p>\n\n\n\n

The FTSE experienced a flamboyant day by any standards \nbut we’re concerned it did not exceed 7,200 points. The high of the day proved \nto be 7,199 and while market futures hit out initial lunchtime projection pretty \nexactly, we were not filled with confidence, instead worrying the FTSE was \nsimply going through the motions in sympathy to other world markets. Basically, \nwe would have expected better on the day. We mentioned recently our rule of \nthumb, where an initial surge exceeding a target gives a pretty solid clue for \nwhat’s coming next. While the FTSE matched our target on the initial surge, it \nfailed to better it. Even FTSE futures, normally gifted with excess, only \nachieved 7200.08 on the initial surge to target.<\/p>\n\n\n\n

We’re therefore not bursting with optimism for Friday.<\/p>\n\n\n\n

Movement on the FTSE above 7,201 should reach a boring \nsounding 7,218 points. If exceeded, life becomes more interesting as the \nsecondary calculates at an amazing 7,301 points! Visually, we would expect some \nhesitation around the 7,237 mark, due to the presence of prior highs recently.<\/p>\n\n\n\n

If triggered, the very tightest stop is at 7,163 points \nbut realistically, we’d prefer wider at 7,144 points – or even 7,126 if \nembracing true paranoia.<\/p>\n\n\n\n

What happens if the FTSE breaks below 7,126 points? The \nnext bit requires a stop level at 7,190 points.<\/p>\n\n\n\n

Initially, we’re calculating the potential of reversal \nto an initial 7,089 points. At this point, it gets nasty as any break below this \nlevel risks a longer term cycle down to 6,996 points.<\/p>\n\n\n\n

Importantly, we’re at the end of a month and things \ntend finish with a flourish. <\/p>\n\n\n\n

It’s the Belgian GP this weekend, welcome relief from \nthe chaos which is apparently the UK.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n  <\/font>\n\n<\/a><\/font><\/p>\n\n\n
\n\t

Time Issued<\/font><\/TD>

\n\t

Market<\/font><\/TD>

\n\t

Price At Issue<\/font><\/TD>

\n\t

Short Entry<\/font><\/TD>

\n\t

Fast Exit<\/font><\/TD>

\n\t

Slow Exit<\/font><\/TD>

\n\t

Stop<\/font><\/TD>

\n\t

Long Entry<\/font><\/TD>

\n\t

Fast Exit<\/font><\/TD>

\n\t

Slow Exit<\/font><\/TD>

\n\t

Stop<\/font><\/TD>

\n\t

Prior<\/font><\/TD> <\/TR>\nFUTURES<\/font><\/a>

\n\t

10:33:38PM<\/font><\/TD>

\n\t

BRENT<\/font><\/TD>

\n\t

60.41<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

<\/TD> <\/TR>\n

\n\t

10:35:19PM<\/font><\/TD>

\n\t

GOLD<\/font><\/TD>

\n\t

1528.43<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Sorry<\/font><\/TD> <\/TR>\n

\n\t

10:44:19PM<\/font><\/TD>

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FTSE<\/font><\/TD>

\n\t

7189<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

10:48:13PM<\/font><\/TD>

\n\t

FRANCE<\/font><\/TD>

\n\t

5448<\/font><\/TD>

\n\t

5396<\/font><\/TD>

\n\t

5386.5<\/font><\/TD>

\n\t

5362<\/font><\/TD>

\n\t

5440<\/font><\/TD>

\n\t

5460<\/font><\/TD>

\n\t

5479<\/font><\/TD>

\n\t

5525<\/font><\/TD>

\n\t

5397<\/font><\/TD>

\n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

10:49:58PM<\/font><\/TD>

\n\t

GERMANY<\/font><\/TD>

\n\t

11859<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

10:56:54PM<\/font><\/TD>

\n\t

US500<\/font><\/TD>

\n\t

2923.87<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

10:59:07PM<\/font><\/TD>

\n\t

DOW<\/font><\/TD>

\n\t

26359<\/font><\/TD>

\n\t

26145<\/font><\/TD>

\n\t

26061.5<\/font><\/TD>

\n\t

25945<\/font><\/TD>

\n\t

26346<\/font><\/TD>

\n\t

26411<\/font><\/TD>

\n\t

26496.5<\/font><\/TD>

\n\t

26659<\/font><\/TD>

\n\t

26240<\/font><\/TD>

\n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

11:01:23PM<\/font><\/TD>

\n\t

NASDAQ<\/font><\/TD>

\n\t

7702<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Success<\/font><\/TD> <\/TR>\n

\n\t

11:03:29PM<\/font><\/TD>

\n\t

JAPAN<\/font><\/TD>

\n\t

20676<\/font><\/TD>

 <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD>  <\/TD> \n\t

Success<\/font><\/TD> <\/TR>\n\n<\/TABLE>\n\n

 <\/p>\n

 <\/p>\n

29\/08\/2019 FTSE Closed at 7184 points. Change of 0.98%. Total value traded through LSE was: \u00a3 4,926,670,001 a change of -7.06%<\/h>\n","protected":false},"excerpt":{"rendered":"

#CAC40 #DOW It was amusing, seeing the UK stock market celebrate the resignation of Ruth Davidson (their “leader” in Scotland) with a fairly substantial upward day. Her main claim to fame was eradicating the word “Conservative” from leaflets, replacing it with the silly ‘Ruth Davidsons Party’. Vote share didn’t change, even slightly, and the Conservatives … <\/p>\n

Continue reading “FTSE for 30\/08\/2019”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1181","post","type-post","status-publish","format-standard","hentry","category-trendsandtargets"],"_links":{"self":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/1181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/comments?post=1181"}],"version-history":[{"count":1,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/1181\/revisions"}],"predecessor-version":[{"id":1182,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/1181\/revisions\/1182"}],"wp:attachment":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/media?parent=1181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/categories?post=1181"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/tags?post=1181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}