Bulls and Bears are having a street fight .... cyclic signals

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Derek  23 Feb 2018


The Bulls and the Bears are having a street fight at current levels. The interesting thing is that it is not happening in a neutral area, but at resistance levels. We cannot say yet who is the winner?

The US were mixed and the East is positive this morning.

The only index that is not taking part in this street fight is the ASX of Australia. Do notice that it has moved today to touch strong resistance. Since the last positive signal, FrontRunner is unmoved and just continue higher.

I promised to show when McDonalds breaks its negative trend line. The interesting thing to note is that I did not use the long legs of the candles at the bottom to draw the divergence. The turn came with a doji and divergence. I drew the divergence line where the high volume was present.

JSE Technical:
The JSE does not know if its coming or going with all this volatility in the US. The JSE remain mainly negative and I really had to hunt to get something positve .... Spotlight did show Clicks.

The price has a rising bottom, FrontRunner has rising bottoms and the MACD is positive for Clicks.

Sorry to close off negatively this morning. The market was very relieved that it was not Resilient that was investigated by Viceroy. Well .... that did not help Resilient. Notice the TrendFactor line how it changed from green, to yellow, to red and finally we are in a dark red TrendFactor. When a share starts changing to red, rather get rid of it then. I was asked yesterday about the FXC2 signals showing positive turns. REMEMBER to ignore all cyclic signals in a strong trend! This is a strong negative trend and one will only look at the cyclic signals again when a trend line gets broken.

You must enjoy a fabulous weekend.



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