Barclays for 25/07/2019

#SP500 #NK225 It’s funny but Mrs May always struck as the type of person found running a local authority (keen not to rock the boat) but unsuited to run a country. Now, she’s been replaced by someone who used to run a local authority – London. Life is doubtless going to become interesting and we’re starting to wonder if the banks shall benefit.

Barclays share price has cheerfully wandered through the downtrend for the last year, a movement we suspect was not accidental. Quite an interesting situation now presents itself as share price growth above 163p calculates as capable of movement to an initial 175p. If bettered, secondary works out at a surprising 193p!

We’re a little surprised at this behaviour. The drift through the downward trend removed Barclays, quite neatly, from a zone which has been promising a bottom eventually of 134p. Or far worse, if such a level broke. The immediate situation calls for a revamp of our thinking as the share requires closure below 158p to give a pretty firm suggestion some strong growth is not on the cards, anytime soon.

A suspicion exists of the market simply opting to start a new trend, while everyone tries to figure out what the new bloke in the hot seat is going to do next. Of course, the media will have us believe he also doesn’t know from one minute to the next. Hopefully Boris adopts Mr Trumps Twitter habits, entertaining the nation and giving those who seek to be offended plenty to moan about.

For now, some slight optimism exists for Barclays.

FUTURES

Time Issued	Market	Price At Issue	Short Entry	Fast Exit	Slow Exit	Stop	Long Entry	Fast Exit	Slow Exit	Stop	Prior
10:21:02PM	BRENT	63.01									Shambles
10:22:38PM	GOLD	1426.55
10:29:27PM	FTSE	7513.9									Success
10:31:01PM	FRANCE	5630.2
10:33:13PM	GERMANY	12563
10:35:32PM	US500	3016.72	2996	2993	2984	3010	3019	3022.25	3030	3002	Success
10:38:07PM	DOW	27262
10:40:18PM	NASDAQ	7989.77									Success
10:47:44PM	JAPAN	21743	21613	21577.5	21514	21699	21768	21788.5	21847	21641	‘cess

24/07/2019 FTSE Closed at 7501 points. Change of -0.73%. Total value traded through LSE was: £ 6,389,282,051 a change of 12.21%