Bears not completely in control .... Trend Factor

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Derek  15 Nov 2017

Morning,

International:
Although most indices are below their EMA8, which is a sign that the Bears are in control, all the main indices in the US made either a hammer or a doji. This implies uncertainty about the way forward?

I show the DAX that has now corrected to support.



General Electric (GE) has been struggling with poor results for quite a while. The investors also do not believe that their turn around strategy can work. I show this share as to illustrate the trend factor that we have in TradeFX. Notice how it changed from yellow (just positive), to red (negative) and then dark red (extremely negative). I zoomed out quite a lot for you to see this negative trend.



JSE Technical:
I am trying my best to be not too negative today, but it is not easy. Lets show Aspen again that has touched support 12 times. It is busy building a very strong base. Not the greatest trend factor, only yellow.



The investors also did not like the latest allegations against Steinhoff. It has now broken the last support and is in free fall over the cliff. Notice where FrontRunner and MACD broke down the last time. Needless to say, but the trend is dark red, all negative. Even if you get a signal here, best to stay away.



I do not know if you noticed, but we only give signals in Spotlight (TradeFX quick scan) of shares that have a positive trend. We avoid negative trends as they have a tendency to keep on going down as you can see in the chart of General Electric and Steinhoff.

Enjoy your day.

Enjoy your day.

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