Europe still hesitant .... FrontRunner prediction .... The 3rd leg of ....

    All Channels      Market Reviews  

Derek  14 Feb 2018

Morning,

International:
The Markets in Europe are still hesitant after the recent corrections. The US also opened very hesitantly and did manage to close positively. The East is also mixed with the HangSeng strong and the Nikkei negative.

To understand the value of FrontRunner (not available in any other software) I must show the Nikkei. When FrontRunner dips below the bottom 3 lines, it predicts that the bottom has not been reached. Look how the Nikkei is making a new bottom and now FrontRunner is showing divergence. When it turns now, that will be the true bottom of the Nikkei. It works similarly for a top.



I was asked yesterday what share I would prefer in the US currently. Caterpillar made a long doji on support, FrontRunner did not indicate that another low was coming, the TrendFactor is dark green and it closed just below the Trend line. What more do you want? And then it did break the TrendLine yesterday.



JSE Technical:
Kumba Iron Ore did not close close to its top of the day, but technically looks very strong. It broke the trend line, the EMA8 line is broken, Frontrunner broke up a few days ago already and it has a strong TrendFactor. Exarro's chart looks exactly the same.



I stay with the resources this morning! Look at Anglo American. Note where FrontRunner broke up. Now the trend line and EMA8 lines are broken. The turn was on support when it was completely oversold. Magic!!!!



3rd Leg of a Bull run:
The first leg of any Bull move is never the most profitable. It is the 3rd leg that is. I show this history on the graph of YUM. Also notice that no share goes up in a straight line. Yum is currently still strugling to start a first leg though.



If you want a technical opinion on any share, even if you are not using TradeFX, I can be contacted at derek@zoclee.com

You must have a great day.
Download TradeFX™
 

Copyright © 2017 {Zoclee}™. All rights reserved.