Last week, we dwelled extensively on the difference between a closing price of 10,910 points and 10,908 points. To most sane folk, the two levels are effectively identical but with the FTSE spending the last week carefully avoiding CLOSING a day above 10,910 points – the market high from February this year! – with exquisite care given to respect the FTSE trigger level. As the candles show on the chart extract, despite plenty if intraday forays above the Green closing price line, the FTSE has proven unable to break free upward.
Once again, the importance of Closing Prices is being illustrated, it being a frequent truism to “really” break free of a trend, only a ‘Higher High’ closing price dare be thought of as the only safe signal. Though, of course, there is no such thing as “safe” when discussing the stock markets, either indices, commodities, or share prices. When examining near term movements, it’s obviously virtually impossible to use closing prices but for the FTSE, it certainly appears as if movement next above 10,952 points should bring a visit to an initial 11,017 points with our secondary, if exceeded, working out at 11,088 points. If triggered, the tightest stop loss level appears to be 10,894 points, a bit wide but does reflect the potential for the number of points gained.
In the interests of balance, we’re able to provide an alternate scenario while we impatiently count down the days until the next Grand Prix (just 2 weeks). The situation is a bit wobbly, suggesting FTSE movement below 10,830 points risks triggering reversal down to an initial 10,751 points with our secondary, if broken, a very probable market bottom at 10,721 points. Our visual suspicion with these dance steps will be a belief the UK is indeed “parking” the index, while the grown ups from the market enjoy Benidorm, Butlins, or Blackpool… Meanwhile, the FTSE should be “trapped” between 10,750 and around 10,900 points.
There’s one really unexpected side effect of living in Argyll. We’ve not actually taken a conventional holiday for years. Despite whinging about the foul weather, at the drop of a cliche, we can take a day trip to really nice beach destinations, canoe down the river and paddle along the sea shore to our house, even go skiing in winter with Glencoe around an hour away. Or more often, just spent time mucking around varied projects in the back garden or forest. Talking to other folk from the area, it seems very few people bother going on holiday in any conventional sense.
Have a good weekend.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:00:33PM | BRENT | 8235.5 | 7816 | 7757 | 8128 | 8300 | 8414 | 8143 | ‘cess | ||
| 11:06:12PM | GOLD | 4240.83 | 4224 | 4206 | 4254 | 4284 | 4304 | 4251 | |||
| 11:30:49PM | FTSE | 10860.6 | 10849 | 10831 | 10882 | 10916 | 10936 | 10890 | |||
| 11:33:03PM | STOX50 | 6500.5 | 6470 | 6450 | 6503 | 6526 | 6540 | 6501 | |||
| 11:35:27PM | GERMANY | 26170.4 | 26083 | 25986 | 26222 | 26268 | 26323 | 26160 | |||
| 11:39:53PM | US500 | 7714.8 | 7702 | 7674 | 7726 | 7746 | 7762 | 7713 | ‘cess | ||
| 11:44:36PM | DOW | 53892 | 53826 | 53748 | 54034 | 54050 | 54088 | 53888 | ‘cess | ||
| 11:47:45PM | NASDAQ | 29470.7 | 29145 | 29097 | 29465 | 29574 | 29680 | 29370 | Success | ||
| 11:50:41PM | JAPAN | 65779 | 64901 | 64786 | 65533 | 66351 | 66605 | 65826 | Success |
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:AV. Aviva** **LSE:DGE Diageo** **LSE:RR. Rolls Royce** **LSE:SAGA SAGA Plc** **LSE:SFOR S4 Capital** **LSE:SPX Spirax** **
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Updated charts published on : Aviva, Diageo, Rolls Royce, SAGA Plc, S4 Capital, Spirax,
LSE:AV. Aviva. Close Mid-Price: 710.2 Percentage Change: + 0.00% Day High: 714 Day Low: 700
Target met. Simply managing to get the share price above 714 is the next ……..
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View Previous Aviva & Big Picture ***
LSE:DGE Diageo. Close Mid-Price: 1732.5 Percentage Change: + 0.00% Day High: 1824 Day Low: 1635
Target met. In the event of DGE share price managing to exceed 1824 (plea ……..
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View Previous Diageo & Big Picture ***
LSE:RR. Rolls Royce. Close Mid-Price: 1533.4 Percentage Change: + 0.00% Day High: 1585.2 Day Low: 1533.4
The next task for Rolls Royce is to get the price above 1585.2 (not with ……..
</p
View Previous Rolls Royce & Big Picture ***
LSE:SAGA SAGA Plc. Close Mid-Price: 721 Percentage Change: + 0.00% Day High: 730 Day Low: 704
Simply managing to get the share price above 730p is the next hurdle for ……..
</p
View Previous SAGA Plc & Big Picture ***
LSE:SFOR S4 Capital. Close Mid-Price: 54.3 Percentage Change: + 0.00% Day High: 56 Day Low: 49.6
Target met. The next task for S4 Capital is to get the price above 56p (n ……..
</p
View Previous S4 Capital & Big Picture ***
LSE:SPX Spirax. Close Mid-Price: 7375 Percentage Change: + 0.00% Day High: 7460 Day Low: 7355
Target met. If the price of Spirax manages to move ABOVE 7460p, initial U ……..
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View Previous Spirax & Big Picture ***
*** End of “Updated Today” comments on shares. Listed below are those where commentary remains valid.
Click Epic to jump to share:LSE:AAL Anglo American** **LSE:AML Aston Martin** **LSE:ASC Asos** **LSE:AVCT Avacta** **LSE:AZN Astrazeneca** **LSE:BARC Barclays** **LSE:BBY BALFOUR BEATTY** **LSE:BLOE Block Energy PLC** **LSE:BME B & M** **LSE:BP. BP PLC** **LSE:BT.A British Telecom** **LSE:CAR Carclo** **LSE:CNA Centrica** **LSE:CPI Capita** **LSE:ECO ECO (Atlantic) O & G** **LSE:EMG MAN** **LSE:EXPN Experian** **LSE:EZJ EasyJet** **LSE:FGP Firstgroup** **LSE:FOXT Foxtons** **LSE:FRES Fresnillo** **LSE:GENL Genel** **LSE:GKP Gulf Keystone** **LSE:GLEN Glencore Xstra** **LSE:GRG Greggs** **LSE:HIK Hikma** **LSE:HSBA HSBC** **LSE:IAG British Airways** **LSE:IGG IG Group** **LSE:IPF International Personal Finance** **LSE:IQE IQE** **LSE:ITM ITM Power** **LSE:ITRK Intertek** **LSE:ITV ITV** **LSE:LLOY Lloyds Grp.** **LSE:MKS Marks and Spencer** **LSE:MRO Melrose** **LSE:NG. National Glib** **LSE:NWG Natwest** **LSE:OCDO Ocado Plc** **LSE:ONT Oxford Nanopore Tech** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:PMG Parkmead** **LSE:QED Quadrise** **LSE:RKH Rockhopper** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:SRP Serco** **LSE:STAN Standard Chartered** **LSE:STAR Star Energy** **LSE:TERN Tern Plc** **LSE:TLW Tullow** **LSE:TRN The Trainline** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **LSE:VOD Vodafone** **LSE:ZOO Zoo Digital** **
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Many thanks for taking the time to read this and good luck for today. Please feel free to mention us after something goes right!
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Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Trends and Targets Ltd, Shareprice, or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.