FTSE for Friday: new charts for the near term and further out
The trend over the past few months has been positive, but it's been hard work. Independent analyst Alistair Strang shares a couple of charts that may give clues about future direction.
24th July 2026 07:23
by Alistair Strang from Trends and Targets
This week we're looking at the Big Picture and Near Term outlook for the FTSE 100. We keep an eye on these markers as when Near Term and Big Picture targets coincide, this is generally a point from which some larger market movements can be anticipated.
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For the FTSE 100, the current Big Picture looks like the chart below.
At present, there is a strong Big Picture suggestion that movement above 10,716 points should generate traffic to an initial 10,797 points with our secondary, if beaten, calculating at a longer-term 10,832 points. It’s not the worst scenario, allowing a stop loss with 10,640 points.
Our alternate reversal scenario, if a little less pleasant, suggesting below 10,610 points could trigger reversals to an initial 10,589 points with our secondary, if broken, at 10,458 points. Oddly, due to this little dance being enacted within trend lines, the stop loss level for a short position is also at 10,640 points!
Source: Trends and Targets. Past performance is not a guide to future performance.
But from a near-term perspective, things become interesting. Apparently, above 10,665 points has the potential to trigger movement to a fairly tame 10,699 points. But our secondary, if such a level is exceeded, calculates at 10,800 points, just two points away from a Big Picture target. The underlying suggestion is of “something” being due to occur on the FTSE.
From a near-term reversal stance, there is a risk below 10,611 points shall promote reversal to an initial 10,589 with our secondary, if broken, at 10,458 points. We are not confident this reversal scenario shall prove viable but if triggered, the tightest stop is 10,660 points.
For Friday, we’re inclined toward some optimism for the FTSE 100, though market futures at time of writing disagree.
Time will tell. Have a good weekend.
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.
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