Interactive Investor

Analysis: FTSE 100, Dow Jones and US jobs data on 3 April 2020

Both UK and US indices rose yesterday, but does our chartist expect the week to end on a positive note?

3rd April 2020 08:35

Alistair Strang from Trends and Targets

Both UK and US indices posted gains yesterday, but does our chartist expect the week to end on a positive note?

FTSE for FRIDAY (FTSE:UKX)

News of US jobless claims once again doubling to yet another all-time high was greeted by Wall Street reeling in shock, achieving a 2.2% gain.

We'd warned about this "risk" and were amused, seeing the US close the session at 21,393 points.

Our target; 21,395 points! This time round, we doubt if the employment gain shall follow through, thanks to America's Monthly Payroll figures being released early this afternoon, the first Friday of April.

Despite the market making a considerable effort to close the session in safe territory, any travel below 21,116 points is liable to prove traumatic, giving the potential of a fall to 21,600 with secondary 20,320 points!

As for the FTSE 100 for Friday, the UK market is showing some quite strange potentials. Now above 5,553 points and further recovery toward an initial 5,604 points calculates as possible.

If exceeded, our secondary works out at 5,625 points. Unfortunately, the index closed the session at 5,480 and doesn't require much in the way of trouble to provoke some reversals.

Now below 5,450 risks proving an issue, computing at an initial 5,391 with secondary, if broken, down at 5,325 points.
 
Have a good weekend, stay well, and remember the foregoing applies to the markets, not after-hours futures.

Source: Trends and Targets      Past performance is not a guide to future performance

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.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. 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 Alistair Strang, or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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.

Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. 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 Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea. 

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