#Gold #SP500 On the subject of #Lloyds, we’re feeling like one of these annoying cat gifs, the sort of thing you watch until the penny drops the video has been repeating. Since the start of June, Lloyds has made us regret our plan to monitor the share every few weeks.
With all that’s been going on recently, it was to take a special level of skill for Lloyds to move by just 4p since we last reviewed the price and unfortunately, the majority of perceived movement occurred due to the price being manipulated (gapped) at the start of trading. Despite a couple of indications the price should be heading upward, we fear this is going to be one of these things where recovery will probably not prove possible until some volatility occurs. In the case of Lloyds, we suspect this shall require reversal down to 28p before a bounce happens.
Thankfully, there’s an uptrend (Red) which dates back to 2011 which certainly gives sufficient hope a bunch of traders, armed with crayons, will see the share reverse and decide a bounce must take place. Of course, it all becomes a little problematical should 28p break as our secondary target works out at 24.8p. In todays marketplace, we’d not be surprised to see Lloyds find an excuse to panic the market by being gapped down toward the 25p level at the open one day, if sufficient excuse is found. But critically, if such nonsense takes place, we’d also expect the share to close the session around the 28p level, thus making any break below Red a momentary thing. It would certainly “stiff” any folk who place a buy order for the 28p level, along with a stop position 10% away.
This sort of nuisance event actually does happen, a drop triggers a buy and a few seconds later triggers the stop. While it’s almost funny, it can also cost traders dearly by creating a situation where a trade didn’t actually happen and usually, to rub salt in the wound, the share price will ideally close the session above the 28p level anyway.
The moral is fairly straightforward. If going after something volatile, get out of bed and trade rather than rely on an automated series of orders.
We’re not inclined to take any rise seriously on Lloyds until the share price exceeds 38p. This is liable to prove significant, allowing movement to 42.7 initially with secondary, if bettered, at 48p.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:27:11PM | BRENT | 40.59 | Success | ||||||||
| 9:29:12PM | GOLD | 1764 | 1760 | 1756 | 1749 | 1768 | 1780 | 1784 | 1792 | 1764 | ‘cess |
| 9:54:40PM | FTSE | 6135.71 | Success | ||||||||
| 9:57:32PM | FRANCE | 4871 | Success | ||||||||
| 10:00:01PM | GERMANY | 12183 | Success | ||||||||
| 10:02:15PM | US500 | 3061.27 | 3045 | 3029.5 | 2987 | 3069 | 3116 | 3125.5 | 3157 | 3070 | Success |
| 10:05:13PM | DOW | 25533 | Success | ||||||||
| 10:08:14PM | NASDAQ | 10029 | Success | ||||||||
| 10:10:31PM | JAPAN | 22272 | Success |