{"id":967,"date":"2019-05-23T23:12:19","date_gmt":"2019-05-23T22:12:19","guid":{"rendered":"http:\/\/www.trendsandtargets.com\/?p=967"},"modified":"2019-05-24T08:42:35","modified_gmt":"2019-05-24T07:42:35","slug":"ftse-friday-for-24-05-2019","status":"publish","type":"post","link":"http:\/\/www.trendsandtargets.com\/index.php\/2019\/05\/23\/ftse-friday-for-24-05-2019\/","title":{"rendered":"FTSE FRIDAY for 24\/05\/2019"},"content":{"rendered":"\n

#Gold #SP500 <\/strong>As we \nlive through the final days of a failed political career, it’s easy to imagine \nthe abrupt downward surge on the FTSE was a direct result of the UK’s “Strong \nand Stable (aka, Weak and Shoogly)” governance. We’re fairly confident drops \nexperienced on Thursday had nothing to do with the Prime Minister.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

It all goes back to a market movement, worldwide, on \nWednesday. Sharp eyed readers viewing our evening UK Futures noted we used the \nword “Shambles” to describe the previous days results. Our preference, \nobviously, is to use “Success” or ” ‘cess”, denoting whether one or two targets \nwere achieved. We only employ “Shambles” when market behaviour makes absolutely \nno sense. Only once the day was over and tempers calmed did we start to suspect \nwhat had happened.<\/p>\n\n\n\n

At 13:26 on Wednesday, a whole bunch of indices both in \nEurope and the USA dropped, for a couple of seconds, below levels we’d designed \nas key trigger levels to open SHORT positions. Once these short positions \ntriggered, the indices immediately reversed direction, spending the following 90 \nminutes climbing above logical Stop Loss levels for each and every one of the \nSHORT positions.<\/p>\n\n\n\n

Thus, the trades would be cancelled and traders left \nout of pocket. A co-ordinated effort, internationally, reminded us sharply why \nwe avoid comment on Forex unless from a Big Picture perspective. This sort of \nmarket behaviour, in our opinion, is rather lacking in ethics. The following \nprivate note was included on Wednesday evening for our clients;<\/p>\n\n\n\n

“With \nshares, I tend regard this as a clear warning signal for a coming drop with the \nmarket opting to trigger a bunch of trades with attractive stop loss levels. \nThis essentially clears out the folk who were poised to take advantage of coming \nreversals<\/em>.”<\/p>\n\n\n\n

Markets dropped sharply on Thursday, as feared. But \nbehaviour on Wednesday was clearly designed to wipe out SHORT positions, prior \nto the drop!<\/p>\n\n\n\n

Our tantrum over, what’s next?<\/p>\n\n\n\n

The FTSE actually dropped further than we’d like. It \nclosed Thursday at 7230 points and now lurks with the threat of weakness below \n7210 bringing travel down to 7160 points next. Our secondary, should 7156 break, \ncalculates at 7091 points. <\/p>\n\n\n\n

If triggered, the tightest stop level looks like 7270 \npoints. But given market behaviour as listed previously, we’d prefer wider still \nat 7301 points.<\/p>\n\n\n\n

We’ve an obvious disparity between a drop target 7160 \nand trigger level of 7156. This is fairly simple, due to the FTSE being \nmanipulated (gapped) downward by 14 points at the open on Thursday morning. \nEssentially, this nonsense confuses our software.<\/p>\n\n\n\n

What happens if the FTSE exceeds 7270 points? Initially \nwe’re looking for 7300 points. Our secondary, if such a point exceeded, \ncalculates at 7375 points. If triggered, the tightest stop is at 7210 points.<\/p>\n\n\n\n

Perhaps it is also worth mentioning the index (somehow) \nremains above the 2019 Red uptrend on the chart below. We’re far from \ncomfortable this state of affairs shall continue.<\/p>\n\n\n\n

On a brighter note, it’s the Monaco GP this weekend, \npossibly the most boring race on the F1 calendar yet one which makes compulsive \nviewing in the hope something happens. Have a good weekend.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\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

10:25:51PM<\/font><\/TD>

\n\t

BRENT<\/font><\/TD>

\n\t

67.02<\/font><\/TD>

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

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

\n\t

10:28:00PM<\/font><\/TD>

\n\t

GOLD<\/font><\/TD>

\n\t

1284<\/font><\/TD>

\n\t

1272.82<\/font><\/TD>

\n\t

1270.5<\/font><\/TD>

\n\t

1265<\/font><\/TD>

\n\t

1279<\/font><\/TD>

\n\t

1287.25<\/font><\/TD>

\n\t

1291<\/font><\/TD>

\n\t

1298<\/font><\/TD>

\n\t

1279<\/font><\/TD>

\n\t

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

\n\t

10:31:18PM<\/font><\/TD>

\n\t

FTSE<\/font><\/TD>

\n\t

7233.72<\/font><\/TD>

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

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

\n\t

10:33:56PM<\/font><\/TD>

\n\t

FRANCE<\/font><\/TD>

\n\t

5284.7<\/font><\/TD>

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

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

\n\t

10:37:14PM<\/font><\/TD>

\n\t

GERMANY<\/font><\/TD>

\n\t

11948<\/font><\/TD>

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

‘cess<\/font><\/TD> <\/TR>\n

\n\t

10:39:15PM<\/font><\/TD>

\n\t

US500<\/font><\/TD>

\n\t

2821.12<\/font><\/TD>

\n\t

2810<\/font><\/TD>

\n\t

2800.5<\/font><\/TD>

\n\t

2770<\/font><\/TD>

\n\t

2835<\/font><\/TD>

\n\t

2845<\/font><\/TD>

\n\t

2850.5<\/font><\/TD>

\n\t

2866<\/font><\/TD>

\n\t

2822<\/font><\/TD>

\n\t

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

\n\t

10:43:26PM<\/font><\/TD>

\n\t

DOW<\/font><\/TD>

\n\t

25485.8<\/font><\/TD>

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

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

\n\t

10:45:47PM<\/font><\/TD>

\n\t

NASDAQ<\/font><\/TD>

\n\t

7308.12<\/font><\/TD>

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

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

\n\t

10:48:17PM<\/font><\/TD>

\n\t

JAPAN<\/font><\/TD>

\n\t

20874<\/font><\/TD>

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

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

23\/05\/2019 FTSE Closed at 7231 points. Change of -1.4%. Total value traded through LSE was: \u00a3 5,924,231,411 a change of -15.02%<\/h>\n","protected":false},"excerpt":{"rendered":"

#Gold #SP500 As we live through the final days of a failed political career, it’s easy to imagine the abrupt downward surge on the FTSE was a direct result of the UK’s “Strong and Stable (aka, Weak and Shoogly)” governance. We’re fairly confident drops experienced on Thursday had nothing to do with the Prime Minister. … <\/p>\n

Continue reading “FTSE FRIDAY for 24\/05\/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-967","post","type-post","status-publish","format-standard","hentry","category-trendsandtargets"],"_links":{"self":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/967","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=967"}],"version-history":[{"count":1,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/967\/revisions"}],"predecessor-version":[{"id":968,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/posts\/967\/revisions\/968"}],"wp:attachment":[{"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/media?parent=967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/categories?post=967"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.trendsandtargets.com\/index.php\/wp-json\/wp\/v2\/tags?post=967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}