Last Friday, our FTSE outlook presented 10,415 points as a potential market bottom. The reversal was to take another 4 days to enact with the “strength” of the drop proving as clear as mud. The index indeed reached our target as shown below, breaking our 10,415 target just after 9am on Thursday. Ultimately, during intraday shenanigans, it was to reach 10,390 points in what would normally count as a solid break of the target level. However… this was not to be the end of the story, the index ending the session at 10,428 points and from our perspective, failing to officially destroy our target, the market closing a touch higher.
While there may be a touch of saving face here, explaining a scenario where a price both meets target AND fails to break it, this is always a frustration with our insistence on a Closing Price rule. Had the UK index CLOSED the session below 10,415 points, we’d be cheerfully announcing a major reversal scenario commencing. Instead, we are forced into caution as nothing is looking certain.
We’re left with a classic conundrum. The market “proved” our target level can be broken but also “proved” it wasn’t immediately ready to kick open the gates of hell with a potential apocalyptic scenario. At present, about the only confident thing we dare suggest (for reversals) is of movement below 10,390 igniting a slide down to an initial 10,290 points. Our secondary, if such a level breaks, calculates down at 10,055 points along with a very probable bottom.
But, the market ensured the FTSE didn’t close below our target, implying some surprise strength may be waiting in the wings. Above 10,470 shall be viewed positively, potentially triggering recovery to an initial 10,515 points with our secondary, if bettered, a critical 10,589 points. This secondary is a fairly big deal, dropping the index into a zone where the market can challenge the level of trend break at 10,670 points and the potential of making the current drop something of a fake.
We do, of course, take all this nonsense quite personally as we’re guilty of treating the market as an animate “them” which is clearly ridiculous. After all, whey would “they” avoid the index closing below our target level.
Have a good weekend and pretend to enjoy the Grand Prix. We shall…
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:25:23PM | BRENT | 10256.9 | 9592 | 9288 | 9800 | 10292 | 10420 | 10107 | Success | ||
| 10:28:55PM | GOLD | 4176.43 | 4138 | 4106 | 4168 | 4192 | 4211 | 4172 | Success | ||
| 10:32:00PM | FTSE | 10461.3 | 10386 | 10352 | 10452 | 10564 | 10641 | 10467 | Success | ||
| 10:35:10PM | STOX50 | 6180.4 | 6160 | 6099 | 6200 | 6272 | 6320 | 6210 | Success | ||
| 10:40:28PM | GERMANY | 24975.5 | 24829 | 24710 | 24998 | 25230 | 25355 | 25036 | Shambles | ||
| 10:43:56PM | US500 | 7667.9 | 7616 | 7606 | 7654 | 7691 | 7720 | 7659 | Success | ||
| 10:48:39PM | DOW | 50921.8 | 50557 | 50066 | 51026 | 51199 | 51386 | 50976 | ‘cess | ||
| 10:51:47PM | NASDAQ | 30506.9 | 30263 | 30053 | 30421 | 30873 | 30970 | 30493 | ‘cess |
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:ASC Asos** **LSE:BARC Barclays** **LSE:EXPN Experian** **LSE:IGG IG Group** **LSE:IQE IQE** **LSE:ONT Oxford Nanopore Tech** **LSE:OXIG Oxford Instruments** **LSE:PHP Primary Health** **LSE:RKH Rockhopper** **
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Updated charts published on : Asos, Barclays, Experian, IG Group, IQE, Oxford Nanopore Tech, Oxford Instruments, Primary Health, Rockhopper,
LSE:ASC Asos. Close Mid-Price: 505 Percentage Change: + 0.00% Day High: 515 Day Low: 498.5
The next task for Asos is to get the price above 515 (not with a fake spi ……..
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View Previous Asos & Big Picture ***
LSE:BARC Barclays. Close Mid-Price: 438.95 Percentage Change: + 0.00% Day High: 454.85 Day Low: 437.8
Managing to get the share price BELOW 437.8 is the next problem level for ……..
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View Previous Barclays & Big Picture ***
LSE:EXPN Experian. Close Mid-Price: 2427 Percentage Change: + 0.00% Day High: 2491 Day Low: 2403
Weakness on Experian below 2403 will invariably lead to 2314p with second ……..
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View Previous Experian & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 1279 Percentage Change: + 0.00% Day High: 1329 Day Low: 1279
In the event IG Group experiences weakness below 1,279 it calculates with ……..
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View Previous IG Group & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 49.3 Percentage Change: + 0.00% Day High: 50.55 Day Low: 46.95
Target met. Further movement against IQE ABOVE 51p should improve acceler ……..
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View Previous IQE & Big Picture ***
LSE:ONT Oxford Nanopore Tech. Close Mid-Price: 214 Percentage Change: + 0.00% Day High: 220.8 Day Low: 211.2
All Oxford Nanopore Tech needs are mid-price trades ABOVE 220.8 to improv ……..
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View Previous Oxford Nanopore Tech & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 3014 Percentage Change: + 0.00% Day High: 3034 Day Low: 2878
Continued trades against OXIG with a mid-price ABOVE 3034 should improve ……..
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View Previous Oxford Instruments & Big Picture ***
LSE:PHP Primary Health. Close Mid-Price: 89.55 Percentage Change: + 0.00% Day High: 91.7 Day Low: 89.5
If Primary Health experiences continued weakness below 89.5, it will inva ……..
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View Previous Primary Health & Big Picture ***
LSE:RKH Rockhopper. Close Mid-Price: 58.8 Percentage Change: + 0.00% Day High: 60.5 Day Low: 56.2
Target met. In the event of RKH share price managing to break below 56p ( ……..
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View Previous Rockhopper & 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:AV. Aviva** **LSE:AVCT Avacta** **LSE:AZN Astrazeneca** **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:DGE Diageo** **LSE:ECO ECO (Atlantic) O & G** **LSE:EMG MAN** **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: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:PMG Parkmead** **LSE:QED Quadrise** **LSE:RR. Rolls Royce** **LSE:SAGA SAGA Plc** **LSE:SBRY Sainsbury** **LSE:SCLP Scancell** **LSE:SDY Speedyhire** **LSE:SFOR S4 Capital** **LSE:SMT Scottish Mortgage Investment Trust** **LSE:SPX Spirax** **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!