[isatrader]

Would I be correct in saying that Lloyds is now in stage 4, and that the thick black line (which although isn't precise does a good job of highlighting an area) would mark its initial breakdown? Or are we now in a stage 4 continuation?
Did stage 4 take place higher up at the red line?
The reason why I ask is that I've been following this for quite some time and yet its only in hindsight and past its breakout does it become apparent.
volume is lower so not a deal breaker, but not confirming the breakdown and the Mansfield RS has just popped into the negative
any thoughts as to a good candidate, or am I chasing this one?

I would say that it is Stage 4A, as of last weeks close due to the the breakdown below the latest weekly swing low that had formed below the 200 day MA, and the turning lower of the 30 week MA, and relative performance weakening below the zero line.

The earlier breakdown that you marked occurred with a still slightly rising 30 week MA, and with only a small range into multiple support levels from the 200 day MA and the previous late 2013 range, as well as being quite far above the rising cloud support.

I don't think you are chasing as it's in the early part of it's breakdown, but you should check the other constituents of the banking group and compare against it, as the likes of BARC.L or RBS.L still look much weaker from an SA perspective imo, and there might be others in the group that are weaker still.