After the breather ....

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Derek  9 Nov 2017


After taking a breather, only for one day, the US moved positively again and the East is following with the Nikkei the leader with +1.98%. The last date the Nikkei was below the EM8 Average was 8 Sept.

You will recall the long period the ASX moved sideways. When it broke it only had a few days of resistance at the next Resistance level and then that was broken too. Notice how far it has since moved away from the previous resistance.

Birkshire Hathaway is not following this positive sentiment yet. Notice the downward trend of price and indicators. Best to wait for the trend line break!

JSE Technical:
After Aspen broke resistance, it came back to touch the resistance 8 times. Remember that I said, most of the times a price comes back to touch the break line! The difference this time is that most of the indicators are at the bottom now?

Just when you think the bad news at Steinhoff is over .... a new one pops out of the woodworks and the share price gets hammered. Notice the trend factor (3rd colour line below price graph). The long term negative trend line are also in place. Best to wait till all news has been confirmed and the result of the current court case is known before investing here. AND wait for the trend lines to be broken!!!!

Enjoy your day.
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