13 Year Bull ....Growing graveyard .... Double top and bottom

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Derek  13 Mar 2018

Morning,

International:
Markets are hesitating ahead of the US inflation report.

I show the S&P500 where you can see the hesitation with a small body candle.



An article stated that Apple has been in a 13 year bull? My TrendFactor disagrees with this! There were periods where Apple went into a red (negative) trend for quite a few months. Notice that Apple is now in a positive trend and busy breaking top resistance. The Trend Factor just turned dark green too.



JSE Technical:
And then Aspen denies fancy bookkeeping like Steinhoff? No wonder the JSE is having a bad time as the corruption in the private sector, like the government, with the downgrading is taking its toll now.

Our Trend Factor turned red on 12 December 2017 for this share, warning you to stay away. The graveyard in the JSE is growing .... who next?



I touched the subject of double tops and bottoms yesterday, but lets show it in practice. Sasol made a double top in January with divergence. It dropped like a brick then to move into a red Trend Factor. In February after making a double bottom with divergence again, it managed to climb steadily out of the red trend. Hopefully their problems in the US have been solved now?



FirstRand tried 3 times to break top resistance, but could not. FrontRunner showed divergence with every effort, then I knew it will not break the resistance. I did not mark the divergence .... do you spot it? (you are here to learn). It has now corrected to the first support and starting to show signs of a turn. It broke the trend line mid day yesterday, but then closed below it again. Cyclic signals are green.



I am from the old school and still believes that where there is smoke, it might be a fire. So I am very scared of smoke!

Enjoy your day.
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