#Brent #Dax Fundamentals are important. This was proven pretty conclusively by the Comet Neowise, our 21st Century harbinger of doom. A plan at the weekend to photograph the Comet came to perfection at 4am on Sunday morning. With camera fully charged and tripod mounted, binoculars in hand, and of course, a map of the stars showing where the Comet would appear, every single criteria had been met.
After locating “The Big Dipper” and its cousin, “The Little Dipper”, according to the star map the Comet would appear just an inch below and slightly to the left of the constellations. Unfortunately, this was to prove the point where Scotland stuck an oar in, thanks to the sodding mountain in the back garden. Quite literally, everything to the left of the Big Dipper obscured by something tourists call scenery. Needless to say, at 4am, quite a different description was employed. The comet remained unphotographed!
We’re obviously devotees of “The Trend” but, despite the mountain behind the house, suggest it’s always important to pay attention to fundamentals too. Often, it can be the case where internet chatroom positively drools over a Goose about to lay a Golden Egg, when a little bit of research will discover the Goose is actually a very small male duck. This is the reason we’ll often give quite wide trigger parameters when disclosing trading scenario, in the hope if something actually happens, it’s not the result of gossip but rather a trading position based on facts.
This, of course, brings us to Lloyds Bank!
According to “The Trend” , Lloyds Bank share price should make some sort of movement pretty soon as it’s within days of colliding with the Blue downtrend, presently at 32.345p. The reason for movement is pretty basic, we’re not the only folk capable of drawing a line and should the price meander above the trend, it’s liable to provoke some quite “un-Lloyds” behaviour. Initially, we’d hope to witness traffic in the direction of an initial 34.5p with secondary, if exceeded, at 37p. Visually, there’s a reasonable expectation of the 37p level provoking some sort of hesitation, due to this ambition matching the level of a few prior highs.
Only with closure above the 37p level shall we feel (relatively) safe in believing things have changed with Lloyds share price and some real optimism is permitted for the longer term.
A word of caution as there’s a risk the market may chose to play a little game with traders. In the event the share price is miraculously spiked above the Blue downtrend in the opening second of trade in the days ahead, there’s an enhanced risk of it being a “gotcha” ploy, one very capable of provoking reversals to an initial 28.25 with secondary calculating at a frightening 24p.
Regardess, it feels like Lloyds are about to make a movement in the week ahead. Fingers crossed it’s in the correct direction.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 12:06:55PM | BRENT | 43.24 | 42.73 | 42.535 | 42.07 | 43.39 | 43.55 | 43.735 | 44.07 | 42.97 | Success |
| 12:08:51PM | GOLD | 1810.39 | |||||||||
| 12:11:27PM | FTSE | 6299.29 | ‘cess | ||||||||
| 12:13:01PM | FRANCE | 5085 | ‘cess | ||||||||
| 1:02:26PM | GERMANY | 12970 | 12867 | 12771 | 12694 | 12954 | 12980 | 12999 | 13043 | 12917 | ‘cess |
| 1:03:55PM | US500 | 3222.37 | ‘cess | ||||||||
| 1:05:52PM | DOW | 26641 | |||||||||
| 1:07:44PM | NASDAQ | 10637 | |||||||||
| 1:09:44PM | JAPAN | 22671 | ‘cess |
