Self driving cars sold this year .... Simple system

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Derek  19 Jan 2018

Morning,

International:
The US took another breather yesterday. The S&P500 -0.16% and the Nasdaq -0.03%. Asia is positive this morning.

In the quiet, the FTSE and Australia are busy with corrections. I show the FTSE100 and notice: 1 Trend line is broken. 2 Trend line of FrontRunner is broken. 3 MACD broke down.



Self driving cars will be sold this year. This news took Tesla to current resistance in overbought territory. Notice the long leg doji against resistance!



JSE Technical:
I showed Dis-Chem yesterday, but I must do so again. In spite of some staff going on strike, we had a perfect flag breakout. Notice that FrontRunners negative trend is also broken.



Sasol had a false breakout in overbought territory and the formed a mini resistance before collapsing below resistance. Notice that FrontRunner broke down at the mini resistance. False breakouts are very difficult, but if you watch the 2 heatmaps below the chart, it helps to show that it is false. If a share cannot close 4 days in a row above resistance, it is false.



It appears as if Cryptocurrencies have stabilised at current levels, but I see no break of EMA8 lines at any of the currencies yet.

Simple System:
I use the spotlight signals to look at those shares and then draw a trend line. When a trend line gets broken, I decide on action. If it is too much effort to draw trend lines, then the EMA8 breaks in Analyst Expert does the same job. If both the Trend line break and EMA8 break work together .... even better. AND always have a look what FrontRunner is doing to confirm your decision?

You must have a great weekend.
PS. Bank breaks still moving strongly.
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