Downward momentum is easing .... The Graveyard

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Derek  15 Mar 2018

Morning,

International:
Although the US was still correcting yesterday, the downward momentum is easing and that can be seen in the East this morning with small movements.

I must show the DOW that has formed a perfect triangle. A break out of the triangle will show the new direction?



The one share that went against the last correction was Tencent. Notice the trend with rising bottoms.



Similar situation for Paypal Holdings. Notice where the dark green cyclic buy was.



JSE Technical:
The Guptas are not here anymore to give EOH jobs, so they announced a drop in earnings of between 20 and 30%. That made the share drop -20.98%. This should not bother you if you are not in shares with my red Trend Factor. I thought it appropriate to show the graveyard where you should not be in. EOH is no 6 on the list with Steinhoff still no 1. No 2 in the list, Datatec, issued more shares rather than pay out a dividend, but the technical graph does not know this, so his position is not correct.



Resources has tried so many times to lift their heads? Has Kumba Iron Ore finally reached support? You can also look at Exxaro that made a bounce. BUT wait for a trend line break.



Enjoy your day.

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