Relief rally? .... Some more Ramaphosa magic?

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Derek  19 Feb 2018

Good Morning,

Many shares are against resistance in the US, thus we had a very subdued Friday closing. You can see it in spotlight as well, when hardly any shares show up in running spotlight on the S&P500.

Asian markets continue to push higher this morning: "It's kind of a relief rally"?

The Nikkei broke its EMA8 line. Notice how far behind the MACD still is.

Boeing Co is one of the companies driving the DOW higher. Notice the doji against resistance. We will know this afternoon if there is enough steam left to break resistance, if not, we might see some corrections.

JSE Technical:
Will we see some more Ramaphosa magic today? His State of the Nations address came after the markets closed, so we might see some more positive moves, but also hardly any shares showing up in spotlight.

Sasol bounced on support and broke its trend line too. Although it has a negative TrendFactor currently, this share dips in and out of it as you can see to the left. What it does mean is that you cannot make money for a long term investment, but rather medium term.

Imperial Holdings is another share hesitating at resistance with a doji.

You must have a great day.



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