New chart levels for FTSE 100

FTSE (again) and YouGov (LSE:YOU)

Starting the week with a grump about our marketing abilities was to produce a comprehensive example of why we despise politicians. And, also, a pretty good example of our work.

We'd spent time calculating potentials for a week and Mrs May ensured the market did everything in a few hours. Shown below, we tweeted a screen shot of Monday evening's work - does this count as "shouting from rooftops"?

Anyway, thanks to our illustrious leader, we need to revisit the market as it appears everything has been trashed. Aside, that is, from the salient detail that, while FTSE futures reached 7,116 points, the FTSE 100 itself 'only' slithered down to 7,147 points.

The situation now appears to be weakness below 7,147 being capable of generating 7,109 points and hopefully a bounce. In fact, it almost must bounce, as below 7,109 hints strongly at a future 6,937.

The annoying thing is the big picture uptrend since early 2016. It appears the market now needs below 6,500 to justify extreme underwear concerns, so there's one heck of a lot of spare bandwidth.

To be blunt, should the market actually now close below 7,109, it's going to be hard to avoid a donk against the long-term uptrend.

Of course, this might all be a bad dream as the prior Brexit uptrend had proven resilient. Unfortunately, the market now needs to better 7,285 to regain the prior trend.

A miracle such as this allows recovery to 7,370 in a blink according to our software. Early warning of a coming miracle will hopefully be the FTSE trading above 7,219 in the coming week.

YouGov

Given the news on 18 April, it appears probable YouGov will once again be able to 'rake it in' during the months ahead.

We last viewed this in June 2016 and it indeed reached our 233p, exceeding this quite comfortably once the obligatory stutter period completed.

The situation now is of movement above 274p almost promising 284p next as a near-term prospect with secondary at 321p and probably some stutters.

Longer term, closure above 321p allows us to mention 381p. To even slow down the current pace of ascent, the share price needs vote itself below 214p.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

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.