FTSE for Friday (FTSE:UKX)
It’s been a while since we moaned about the AIM market. Thankfully, the AIM remains blithely ignoring the travesty which is the FTSE 100 (UKX) and, at 1,041 points, is trading in fairly helpful territory which does not harm constituents one bit.
Near term, if the AIM betters 1,045 points, it appears growth to an initial 1,060 can be hoped with secondary, if bettered, at 1,084. This secondary ambition is liable to prove a really big deal, bettering the downtrend since the year 2000 and placing the market at risk of substantial growth in the future!
We can hope.
As for The FTSE 100, this week has been a little crazy with the market breaking the uptrend since the Brexit vote.
But the following day, the market appears to have decided it was all a dreadful mistake, growing in strength daily since.
We’ll cover this in greater detail with our Sunday outlook for next week but make no mistake. By proving the Brexit uptrend can break, any future break of this trend is very liable to be quite traumatic and very, very, sudden.
However, the immediate situation for the FTSE does not exactly stink as above 7,213 makes growth toward 7,264 make sense.
Secondary, if bettered, calculates at 7,330 points and, as usual, expecting it all within a single session is liable to prove an exercise in futility given the relatively small growth curve during the last week.
Interestingly, the secondary of 7,330 pretty well matches the blue downtrend since the start of this year, so if achieved some stutters are probable. Stop can be at 7,163 points.
Of course, it is “US PayRoll Day” at 1:30 on Friday and yes, we got the day wrong last week. For a change, this month is not seeing the figures released on the first Friday of the month.
If it all intends to go wrong, below 7,163 would justify some concern. risking reversal to a tame sounding 7,146 points initially. Secondary, if broken, comes along at 7,104 points.
Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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