Corrections are faster than gains .... Indicators work on ....

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Derek  26 Oct 2017


Corrections are always faster than gains due to the fear factor. Most indices around the world broke down into a correction phase. I show the FTSE that could not break strong resistance at top.

I must show the S&P500 too. Notice how there was divergence in place for this correction! I also show where the MACD broke down.

JSE Technical:
The budget speech, as expected, was POOR. No confidence for investors locally. Best to move funds abroad after the correction phase. The only thing the speech helped for, are the Rand Hedges.

I show how the Rand has weakend after the speech, but notice that the weakening started weeks before the speech as everyone knew what was going to happen. Notice the size of the bar yesterday, compared to the previous days. I also show where MACD broke.

British American Tobacco was one of the Rand Hedges that made a strong move. Notice where MACD broke up, also long before the speech.

Yes, indicators work on all commodities, whether it is Metal prices, Currencies or even Wheat prices. I show the Rand $ price above.

Enjoy your day.
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