Perfect setup for a lift off .... Another use of FrontRunner

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Derek  13 Dec 2017

Morning,

International:
Markets are mixed with some strong and others weak.

The perfect setup for any strong move is an ABC correction to support and with divergence in place at support, you have a perfect setup! I show this setup for the FTSE and divergence, support and correction is marked.



I showed Tesla yesterday, but I need to show it again to illustrate another use of FrontRunner. FrontRunner is the first chart below the 3 colour lines. When FrontRunner breaks above the 3 red resistance lines, it indicates that a high has not been reached. Usually when you get divergence, exhaustion and high has been reached. Look how beautifully the W is playing out.



JSE Technical: The JSE had mostly corrections and Steinhoff is still making high % moves from a low bases. (Very volatile .... recommended only for day traders).

To illustrate divergence again, I show Dis-Chem Pharmacies. Notice the resistance at the top it could not break and together with divergence .... pow .... downwards this time. Also perfect setup for the reverse this time!



Unfortunately I can only show negativity today. I mentioned over and over that banks were overbought. I show Standard Bank today to illustrate divergence at the top again with FrontRunner. Time to wait for the turn?



FrontRunner
FrontRunner is an indicator you will not find in any software, as it was written by myself. It has many uses and it takes time to learn how to use it effectively.

You must have a great day

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