Corrections are still the order of the day

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Derek  6 Dec 2017


All the markets are still correcting and at least pulling in the same direction. Unfortunately down.
I show the DOW and notice that FrontRunner's trend line is also broken downwards.

The technical shares started the correction and has now corrected the most. I show Nvidia Corporation that is starting to show the first signs of support. No trend line or any indicator has been broken yet, but they are all oversold.

JSE Technical:
Banks are still the leaders on the JSE. Most of them broke top resistance. I show FirstRand and notice where MACD showed you to get in. When in such a strong trend, ignore all cyclic signals and stay with trend until broken.

The other sector that stood out yesterday was the property sector. I show Resilient that is busy breaking top resistance.

Enjoy your day.
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