All markets abroad positive .... Steinhoff .... where to now?

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Derek  11 Dec 2017


All markets are pulling positively in the same direction. I show the S&P500 and notice that FrontRunner is breaking up. I also show where the MACD broke up.

Another one of my favourites is CBOE Holdings. Notice the steady growth and hardly any corrections. Important is to notice where the trend changed from light green to dark green. I discuss this trend line again below.

JSE Technical:
The question after the Steinhoff "saga" now is: Where to now? I believe they are in big need of cash now and everywhere, where they are invested, are going to be sold to get this cash. There is a whole list of such companies.
Capitec Bank is one of these companies and notice how it has already corrected to the second support line. Notice where the indicators broke down and the divergence.

Lets show a share where Steinhoff has no infuence! Sappi has bounced off support and notice the light green trend line.

Trend Line:
The 3rd colour line below the chart is a trend line we developed to determine a share's long, medium and short term trend in one line. Any positive trend is shown as yellow. Stronger trend is green and the best trend is dark green. On the negative side is red and dark red.

We see this as the most important line to decide if you must invest in this share. We are developing a cheap Internet version of TradeFX where you can quickly on your phone or iPad bring up a chart to make these decisions. We are also going to include the daily spotlight. We hope to have it live early in 2018.

You must have a great day.
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