FTSE isn’t just For Friday, it’s for life!

#FTSE #Gold We could start by saying the FTSE is heading toward 8,726 points, a world beating ambition placing the UK market is the same playground as Germany, Japan, and the USA. Unfortunately, just because we can calculate such a potential does not mean we shouldn’t even adhere to the reality of the situation. Unlike many other markets, the UK has failed to better its pre-Covid-19 levels, in fact not even coming close. When the UK PM is on TV, spouting “World Beating” empty slogans, real world Britain is performing quite dreadfully in every area which matters, perhaps aside from meaningless levels of propaganda.

It’s difficult to find a UK problem without quickly realising the core reason, lack of political will or competence! Even the 12 month late initiative at UK airports, demanding proof of a Covid test prior to allowing potentially plague ridden passengers entry, turns out to be remarkably inept.

“No test, that’ll be a 500 quid fine. Thank you. Enjoy your stay!”

 

To convince us the FTSE intends some proper recovery, the market needs trade above 7,290 currently. Given the index performance so far this year, we’re unable to see indications the UK intends head to this trigger level anytime soon. Quite the converse, if we’re honest as most trading days in 2021 are showing slow and painful declines in the FTSE 100, while other countries are having a party to which the UK isn’t invited.

Shall it be the case the FTSE sober approach to market gains in the face of Covid, Brexit, and Boris may prove the route of wisdom with other countries suddenly experiencing unexpected declines. In some ways, this isn’t as silly a suggestion as it first appeared, if only due to Wall St calculating with a good reason for hesitation around 31,200 points, the current level.

 

Near term, FTSE traffic below 6,688 looks like an issue, capable of triggering reversals to an initial 6,635 points. If broken, our secondary for the longer term (or later in the session!) works out at 6,564 points. The tightest stop, if triggered, is at 6,730 points.

The other side of the coin demands the index move above 6,763, a tripwire allegedly capable of provoking movement toward an initial 6,792 points. If exceeded, our secondary calculation comes in at 6,835 points and yet another challenge of the Blue downtrend on the chart.

 

Have a good weekend and remember, the bright side tells us there are only 65 days until the Formula One season returns in Bahrain.

Hey, chart goes here

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:56:06PM BRENT 56.16 55.38 55.04 56 56.15 56.395 55.5
11:05:18PM GOLD 1870 1858 1849 1872 1875 1884 1858
11:06:50PM FTSE 6732 6704 6683.5 6732 6772 6783.5 6742
11:08:45PM FRANCE 5595.2 5573 5551 5618 5626 5640 5599 ‘cess
11:11:08PM GERMANY 13935 13876 13828.5 13950 14003 14029 13940 ‘cess
11:14:03PM US500 3854.12 3839 3831 3862 3865 3879.25 3843
11:18:56PM DOW 31147 31118 31094 31211 31274 31314 31160 ‘cess
11:21:45PM JAPAN 28623 28493 28407 28678 28700 28762 28550 ‘cess

 

21/01/2021 FTSE Closed at 6715 points. Change of -0.37%. Total value traded through LSE was: £ 5,118,625,468 a change of -7.11%
20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%
19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%
18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%
15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%

Tesco PLC Share Price

#DAX #NASDAQ It was a bit of a shock to realise we last covered #Tesco in 2019 with the share price doing very little since. Finally, it’s showing early potentials of change as the share has been malingering since 2015, a flurry of emails suggesting other folk have noticed something potentially important. It’s certainly surprising against the backdrop of the UK’s doom and gloom. Then again, essential retail generally does pretty well, when the price of goods is no longer the driving imperative and in todays Britain, delays in food imports, along with the need to avoid dying certainly nudge ahead of a bargain in the Creme Eggs department!

The share has a pretty vivid downtrend since 2012, the price effectively flatlining since 2017 but now, the price has finally exceeded this potentially important downtrend. Obviously, this gives no certainty of imminent increase, just places the share in a region where positive news can enjoy positive price movements, unhindered by a trend line many investors shall feel important. We’ve shown the somewhat hesitant break through the trend on the chart inset, price movements since the start of the year indicating the wider market is also perfectly aware of this downtrend.

Our inclination is now to play safe, rather than trumpet the potential of amazing rises ahead. Instead, we’ve established 260p as a viable trigger level with movement above this point calculating with the potential of an initial 295p with secondary, if exceeded, working out at a longer term 319p.

 

In keeping with “playing safe” when looking at recovery potentials, we’ve opted similar methodology for examining trigger levels for reversals. Tesco share price needs trade below 189p to give sufficient excuse for panic. This sort of thing risks proving quite traumatic, giving an initial 164p with secondary, if broken, at a bottom of 144p.

Oddly, this isn’t ‘as bad’ as Tesco could get. For light relief, we calculated where our “ultimate bottom” resides, the number below which we cannot calculate. It works out at 77p, almost the price of two Creme Eggs*** from Tesco. But Sainsbury are selling them for just 35p. We suspect, if we ever witnessed Tesco share price at such a level, we’d feel safer buying the chocolate treat instead!

 

***Useless info: the writer has literally never eaten a Creme Egg.

Hey, chart goes here

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:49:32PM BRENT 55.85 ‘cess
10:52:08PM GOLD 1872.04 Success
10:54:29PM FTSE 6753
10:58:49PM FRANCE 5643
11:00:43PM GERMANY 13949 13804 13762.5 13694 13892 13969 14019 14094 13875
11:02:39PM US500 3850 Success
11:07:29PM DOW 31189 ‘cess
11:10:01PM NASDAQ 13316 13124 13078.5 12992 13255 13335 13359 13390 13217
11:12:06PM JAPAN 28695 Success

20/01/2021 FTSE Closed at 6740 points. Change of 0.42%. Total value traded through LSE was: £ 5,510,172,095 a change of 11.11%
19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%
18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%
15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%

Babcock International

#SP500 #FTSE At the tail end of last year, we cheerfully warned of impending damage to the FTSE 100, if our fears of a rash of profit warnings come to fruition. #Babcock International stepped up to the crease last week, a profit warning giving a rather predictable 20% dive in the share price. It shouldn’t take a brain the size of a planet to figure out where the UK index shall head, if a rash of companies start issuing negative news at the same time. Thankfully, perhaps even amazingly, if behaviour of US banks (so far) this Earnings Season proves an accurate guide, we may face the unlikely situation of the UK banking sector proving strong against the background of a foul market.

 

The immediate situation for Babcock share price is far from encouraging. Last Fridays grotty news has now propelled the share price below an uptrend since 2004 with the immediate situation looking as bleak as UK mortality rates. To be blunt, in the case of Babcock, it almost feels like the share price intends return to levels of stability last enjoyed a painfully long time ago. Continued travel below 195p threatens to provoke a cycle down to an initial 132p with secondary, if broken, at a longer term 55p.

Usually with the sort of thing, we provide a caveat, suggesting nothing threatens this at present. This would be untrue in the case of Babcock International, their share price looking as watertight as one of Britain’s new aircraft carriers, an unfortunate situation for such a major defence contractor.

 

Thankfully, there’s a pretty well defined path for shares to escape such a miserable doom. Firstly, we need the share price to close a session above Red on the chart, signalling the market is aware of the risks and intends correct the damage. Currently, this demands the share price close a session above 206p with such a scenario presenting the first suggestion is was all a dreadful mistake.

Secondly, the share shall need broadcast some sort of signal “bottom is in”. In this instance, we’ll raise an eyebrow should it start trading intraday above 237p. This is liable to prove a good thing, allowing for initial recovery toward 260p. If bettered, things become a little vague but 342p calculates as possible. In reality, we shall prefer taking a further look at the tea leaves, if 260p makes an appearance.

 

For now, Babcock is pretty messy and hopefully able to receive faster repairs than the UK’s ‘world beating’ leaky boats.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:59:50PM BRENT 55.87 Success
10:14:38PM GOLD 1840.4
10:16:59PM FTSE 6733.04 6694 6651 6622 6744 6770 6793 6834 6722 Shambles
10:18:56PM FRANCE 5611 ‘cess
10:22:24PM GERMANY 13856 ‘cess
10:24:12PM US500 3800.47 3779 3747.5 3720 3805 3806 3812.5 3834 3779 Success
10:26:33PM DOW 30939 Success
10:29:11PM NASDAQ 13033 Success
10:30:55PM JAPAN 28732 Success

19/01/2021 FTSE Closed at 6712 points. Change of -0.12%. Total value traded through LSE was: £ 4,959,269,895 a change of 38.63%
18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%
15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%

Argo Blockchain Plc

#Gold #WallSt We’ve received a pile of emails regarding this share price, some from folk dazzled by the confluence of “Blockchain”, “Cryptocurrency”, “Mining” on the company website. We’re surprised they didn’t go the full hog and mention “Covid-19”, “DNA”, and perhaps “Alien Technology”. As usual, there’s a painful lack of concise explanation for just what “Blockchain” actually is, other than a buzz word capable of causing excitement.

 

Put simply, Blockchain is simply a way of transferring something from my computer to your computer but in a way which allows anonymity. The once popular website, “Pirate Bay”, facilitated a similar task with Movies, Music, Software, and Games. “Pirate Bay” stored nothing, other than a list of computer codes which led to the required data. Any computer would do, as long as it was connected to the internet. A user wanting the latest ‘Spice Girls’ release could browse Pirate Bay, then use Peer to Peer software to download whatever they were wise enough not to spend money on. The music (or whatever) would wing its way from the computer hosting the track to your own computer. It was anonymous with the network equally allowing other users to download anything permitted from your PC. The world DID NOT have access to your computer, only whatever folder or files you deemed as available.

Unfortunately, Internet Providers eventually got wise to this traffic and are easily able to spot “Torrent Downloads” on their network. As a result, it is apparently fashionable to issue a ‘3 Strikes and You’re Out’ warning to transgressors rather than threatening legal action. Needless to say, technology jumped ahead anyway with the result Pirate Bay is doubtless as popular as ever, users employing encryption with extremely simply VPN (Virtual Private Network) software. In this way, authorities cannot scan traffic to private computers and the internet can continue as normal. VPN software not only conceals traffic to and from private computers, it also obscures their address on the internet while allowing Peer to Peer traffic to continue unabated.

Obviously, if you are in the business of doing anything illegal, this methodology is ideal when trying to avoid scrutiny. We remain as cynical as ever, when viewing unregulated cryptocurrency along with the current buzzword, “Blockchain”.

 

We think we understand the reason for the quantity of emails over the last couple of sessions. Argo Blockchain share price is currently looking more nervous than a UK Govt Minister when someone mentions Covid and Death Rates. Presently trading around 90p, the share price need only slip below 85p to exhibit the potential of a reversal cycle to an initial 73p. If broken, our secondary calculation gives 48p as a potential bottom. We’d advocate extreme caution should 48p break as our ultimate bottom works out at 3p, turning recent Argo price movements into a spectacular ‘pump & dump’ exercise.

However, the share price doesn’t require a great effort to inject hope for the future. Above 97p calculates with an initial ambition of 107p with secondary, if exceeded, a longer term (or sometime in the next few minutes) 126p. Above 126p, things get quite interesting as we can present 149p as a future ambition, if things go nuts.

For now it’s time for another buzzword; “Fingers Crossed Time!”. From the point at which Argo closed Monday 18th, we fear reversal toward 48p lies ahead.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:59:38PM BRENT 54.8 ‘cess
11:01:48PM GOLD 1838.02 1826 1821.5 1815 1839 1841 1850 1866 1829
11:03:45PM FTSE 6732
11:23:22PM FRANCE 5632 Shambles
11:25:34PM GERMANY 13879
11:27:16PM US500 3777.52
11:28:48PM DOW 30871 30730 30705 30648 30829 30872 30919 30982 30801
11:31:04PM NASDAQ 12830
11:33:45PM JAPAN 28357

 

18/01/2021 FTSE Closed at 6720 points. Change of -0.22%. Total value traded through LSE was: £ 3,577,371,289 a change of -38.17%
15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%

Barclays Bank & Toilet Paper

#Brent #Dax It’s been 3 weeks since we last viewed Barclays and nothing has happened. Time’s a funny old thing, we’ve even got toilet paper dating back to March last year! As with many things, this turns out to be Nicola Sturgeons fault and we still refer to the two rolls under the sink as ‘Nicola’s Paper’, a warning sign the cupboard urgently needs replenished.

The toilet paper affair was quite funny. While everyone was panic buying the stuff, our household stuck to 2020’s Lockdown #1 rules and thanks to chemotherapy and no immune system, decided to take advantage of the emergency supplies from the Scottish Govt.

There was once a quite dreadful brand of ‘loo paper’ called Izal. The stuff came in flat packets, similar in size to current packs of moist cleaning wipes. The contents were anything but smooth, probably able to double as sandpaper if required. While it was ideal to fit military backpacks or perhaps old British Rail toilets, izal was a truly unpleasant product. Somehow, Nicola Sturgeons Govt managed to source toilet rolls of similar quality. It forced us to break Lockdown #1 and go shopping.

 

Similar to Nicola’s toilet roll, Barclays share price remains at the back of the cupboard, never forgotten and only a weapon of last resort…

Or is it?

 

This week, Goldman Sachs are due to announce their earnings for 2020. Following JP Morgans numbers recently, analysts are getting fairly bullish about Goldman Sachs and we’d hope this shall herald the start of an earnings season where even the retail banks may experience some relief to their dismal performance.

For instance, last month we provided criteria for Barclays giving an important target level of 161p. Unfortunately, the best achieved in the last three weeks has been a worrying 158p, making us suspect some weakness may be present. Ideally, the share price needs better 161p to give any real hope for the longer term, due to fairly realistic growth becoming difficult to avoid. Closure above 161p makes travel to an initial 189p with secondary calculating at a more encouraging longer term 228p very possible.

As always, there’s a fly in the ointment thanks to the Blue downtrend on the chart, a line which dates back to the simpler days of 2013 when we were all trying to forget the banking crash a few years earlier. Perhaps some folk will regard it as important, perhaps not. In current market conditions, conventional trend lines seem to lack importance and in any case, Barclays ended 2020 by breaking free from a bigger picture downtrend, one which dates back to 2007. Given price movements, it certainly appears the market was perfectly aware of this almost invisible trend line (see inset on chart).

The immediate situation is fairly benign, the price needing below 146p to suggest coming weakness to 141p. Only below 141p do things risk being problematic as it shall indicate the break from the trend has failed, risking the share again being trapped at the back of a cupboard with a secondary target level of 126p.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:58:45AM BRENT 54.87 54.76 54.5 53.54 55.2 55.8 56.125 56.63 55.3 ‘cess
11:00:15AM GOLD 1828
11:03:00AM FTSE 6697.21 ‘cess
11:47:59AM FRANCE 5599 Success
12:04:42PM GERMANY 13721 13689 13643 13478 13814 13949 13976.5 14079 13862 Success
12:07:07PM US500 3752 Success
12:09:13PM DOW 30737 Success
12:11:18PM NASDAQ 12769 ‘cess
12:13:24PM JAPAN 28229 Success

 

15/01/2021 FTSE Closed at 6735 points. Change of -0.97%. Total value traded through LSE was: £ 5,785,369,773 a change of -14.5%
14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%

FTSE for FRIDAY

#FTSE #Gold January has, thus far, proven fairly resilient with the FTSE despite plenty of reasons for contrary behaviour. We wonder how much of this can be attributed to a market achieving a series of ‘Higher Highs’ and breaking above a pretty firm downtrend? There generally comes a point in trading, when the strength of a trend becomes difficult to resist, creating scenario where a share price or index will move in a direction which defies logic.

In the case of the FTSE, there are some pretty impressive potentials currently showing and we’ve little choice but to anticipate the FTSE discovering a reason to move above 6,904 points and once again give sufficient reason for a further upswing. When a market is enjoying an uptrend, it’s pretty difficult to define the movement when the trend changes direction unless it’s one of these catastrophe falls, provoked by a major event. Our favourite method in this type of guessing game creates a series of contrary calculations and when these outlooks start to be fulfilled, we’re generally correct in believing a trend is changing. Unfortunately, this sort of thing will often involve giving trigger levels which shall be perceived as ‘miles away’ from the immediate market price.

 

For instance, the FTSE (trading around 6,790 at time of writing) needs fail below 6,689 to give the first indication the UK market may be slipping out of its uptrend. Weakness such as this permits reversal to an initial 6,627 points, along with a challenge of the immediate uptrend. Things become sharply dodgy, should 6,627 break as a further reversal cycle toward 6,378 is very possible.

Amazingly, London needs drop below 5,888 points to utterly confirm the upward break is ‘fake’, something visually unlikely. Unless perhaps we are greeted with front page news of Boris riding his bike through a sick children Covid-19 ward, wearing a Jimmy Saville t-shirt, Trump baseball cap and waving the EU flag. The current strength of the marketplace signals something seriously negative will be required to dissuade this FTSE from its climbing cycle.

 

The other side of this coin must examine what to anticipate, should the FTSE next manage above 6,904 points?

Apparently we should anticipate further market recovery toward an initial 7,049 points. If exceeded, our ‘longer term’ secondary (please remember our tenuous grasp of timeframes) calculates at 7,342, visually reaching the height of the FTSE before UK incompetence killed over 100,000 people.

Hey, chart goes here

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:27:19PM BRENT 56.48 55.37 54.91 56.17 56.53 56.655 56.1 ‘cess
10:29:51PM GOLD 1846.75 1828 1808 1846 1858 1862.5 1843 Success
10:32:47PM FTSE 6801.54 6737 6705 6773 6811 6817.75 6786 ‘cess
10:34:51PM FRANCE 5672 5654 5643 5678 5686 5694.5 5660 ‘cess
10:37:31PM GERMANY 13975 13938 13913.5 14000 14028 14058.75 13939 ‘cess
10:39:27PM US500 3798.37 3784 3774 3814 3825 3833.5 3808 ‘cess
10:53:09PM DOW 31034.2 30987 30923.5 31076 31222 31312 31072 ‘cess
10:55:33PM NASDAQ 12921 12883 12819 12986 13039 13068.25 12940
10:57:15PM JAPAN 28817 28561 28486 28780 28975 29009.5 28787 Success

 

14/01/2021 FTSE Closed at 6801 points. Change of 0.83%. Total value traded through LSE was: £ 6,766,545,186 a change of 14.83%
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%

Another look at Lloyds Bank

 #FTSE #DOWJONES Famously, Emperor Nero fiddled while Rome burned. Whereas, Boris went for a Bike Ride while England suffered. News of Britain recording the highest ever daily death count, taking the country to an unenviable 2nd worst in the world was a shock. Surprisingly, reports of UK fatalities being over 100,000 didn’t appear to panic the markets or futures but we’re interested in Lloyds share price, ‘cos it has effectively stopped moving again.

 

When we last reviewed Lloyds, we’d a demand the price exceed 41.5p to assure our software it was about to move. Unfortunately, this number has been entirely absent so far in 2020 and we are starting to wonder if it shall prove a forlorn hope. We’d suspected negative news would risk trashing Lloyds but thus far, Boris & Co’s successful efforts at producing a “World Beating Mortality Rate” has failed to shock the FTSE. In-house, we expect a seasoning of poor income level reports shall be required to spook the index.

For Lloyds, the immediate situation looks risky with movement below 34p risking triggering reversal to an initial 30p. If broken, our secondary calculates down at 26p and we’d hope for a bounce, yet again, if such a number makes an appearance.

The other side of the coin is slightly more encouraging, the share price now needing above 40p to trigger a (visually unlikely) movement toward an initial 43.7p with secondary, if exceeded, working out at a slightly more encouraging 50p. The chart confirms Lloyds is a mess but at least, our software isn’t really projecting a further crash, just a scenario where the share remains trapped between a rock and a hard place.

If it all intends go horribly wrong for Lloyds, our ‘ultimate bottom’, the level we cannot calculate below, comes in at 6p. At present, nothing looks capable of provoking this level. Aside from domestic news in the World Beating UK…

Hey, chart goes hereFUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
10:40:29PM BRENT 55.97 ‘cess
10:42:20PM GOLD 1845.54
10:44:42PM FTSE 6753 6733 6701 6617 6776 6773 6791 6815 6733
10:47:46PM FRANCE 5664
10:50:25PM GERMANY 13959
10:56:43PM US500 3816.32 Shambles
10:58:42PM DOW 31082 30973 30904 30821 31111 31167 31210 31289 31085
11:01:01PM NASDAQ 12990 Shambles
11:14:20PM JAPAN 28426 Success
13/01/2021 FTSE Closed at 6745 points. Change of -0.13%. Total value traded through LSE was: £ 5,892,793,822 a change of 7.6%
12/01/2021 FTSE Closed at 6754 points. Change of -0.65%. Total value traded through LSE was: £ 5,476,413,320 a change of -2.69%
11/01/2021 FTSE Closed at 6798 points. Change of -1.09%. Total value traded through LSE was: £ 5,628,068,721 a change of -23.51%
8/01/2021 FTSE Closed at 6873 points. Change of 0.25%. Total value traded through LSE was: £ 7,358,043,641 a change of -0.17%
7/01/2021 FTSE Closed at 6856 points. Change of 0.22%. Total value traded through LSE was: £ 7,370,774,807 a change of -13.13%
6/01/2021 FTSE Closed at 6841 points. Change of 3.46%. Total value traded through LSE was: £ 8,484,604,926 a change of 72.21%
5/01/2021 FTSE Closed at 6612 points. Change of -100%. Total value traded through LSE was: £ 4,926,938,806 a change of 0%