#Brent #SP500 It’s a real pity there’s not a statue of Zeus here in Argyll. Demolishing a statue reminder of the God of Rain is an attractive proposition, given our weather. Unfortunately the act is uncomfortably close to burning books just ‘cos we don’t agree with their content. Removing grim reminders of history makes it easy to forget important episodes, placing a schools choice of history lessons the only chance most people will get to be taught “who’s who”.
In Antwerp, the statue of King Leopold had ample plaques to remind Belgians of their savage, genocidal, history in the Congo. It’s now gone, along with its ability to educate passers by, victim of a mob of book burners.
This brings are rather neatly to Lloyds, subject of a number of email requests. Which is a pity, because it means we cannot tell a joke about a UK PM’s popularity dropping faster than slaver statues!
In the last month, Lloyds has once again failed to launch itself to the heavens, share price behaviour proving quite insipid when viewed against wider market (illogical) recovery. While it’s still the case the FTSE needs above 6,750 to convince us recovery is real, in the case of Lloyds there’s something a bit funny going on at 38.8p.
The immediate situation now suggests this share needs exceed 38.8p to trigger movement to 42.7p. Obviously this is not the most scintillating recovery but from our perspective, is a fairly big deal and provides the first solid indication the share price has bottomed. Should 42.7p be exceeded, our secondary calculation works out at 48.2p and takes the share price into a zone where it’s “game on” for some stronger future movements.
If the market plans real mischief, below Red (presently 27p) will give ample concern, still signalling reversal to 22p initially with secondary, if broken, at 5p and a dip in the harbour.
Lloyds are a share we generally review monthly. During the current confused market, we’re inclined to accelerate this and shall check up on Lloyds (or Barclays) on a weekly basis.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:08:37PM | BRENT | 41.31 | 40.26 | 39.505 | 38.65 | 41.6 | 42.12 | 42.36 | 42.71 | 40.5 | |
| 10:10:26PM | GOLD | 1738.94 | Success | ||||||||
| 10:12:32PM | FTSE | 6295.04 | Shambles | ||||||||
| 10:16:35PM | FRANCE | 5037.2 | Shambles | ||||||||
| 10:19:15PM | GERMANY | 12488.69 | ‘cess | ||||||||
| 10:21:10PM | US500 | 3187.12 | 3181 | 3174.5 | 3155 | 3213 | 3222 | 3230.5 | 3247 | 3188 | |
| 10:23:59PM | DOW | 26965 | Success | ||||||||
| 10:28:09PM | NASDAQ | 10092 | Success | ||||||||
| 10:30:02PM | JAPAN | 22865 | Success |
10/06/2020 FTSE Closed at 6329 points. Change of -0.14%. Total value traded through LSE was: £ 6,183,586,009 a change of -20.17%
9/06/2020 FTSE Closed at 6338 points. Change of -2.07%. Total value traded through LSE was: £ 7,746,073,267 a change of -2.7%
8/06/2020 FTSE Closed at 6472 points. Change of -0.19%. Total value traded through LSE was: £ 7,960,814,062 a change of 13.86%
5/06/2020 FTSE Closed at 6484 points. Change of 2.26%. Total value traded through LSE was: £ 6,991,891,155 a change of 13.09%
4/06/2020 FTSE Closed at 6341 points. Change of -0.64%. Total value traded through LSE was: £ 6,182,855,691 a change of -6.26%
3/06/2020 FTSE Closed at 6382 points. Change of 2.6%. Total value traded through LSE was: £ 6,595,529,231 a change of 1.59%
2/06/2020 FTSE Closed at 6220 points. Change of 0.88%. Total value traded through LSE was: £ 6,492,491,444 a change of 37.82%
