Bears are in full control .... Downgrading?

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Derek  20 Mar 2018

Morning,

International:
The bears took full control of the markets and all indices are negative.

I show the Nasdaq and notice where FrontRunner broke down. MACD is also breaking down and all trend lines and EMA8 line are broken.



Facebook's troubles sparked the tech sell off. Notice the gap, enormous volume and short term divergence.



JSE Technical:
Looks like cash is KING currently. The Rand will also stay under pressure in anticipation of Moody's decision on a futher downgrading on Friday.

In this market I am hesitant to show anything. But I do want to show Richemont that is slowly busy climbing out of its long bear trend. Notice where MACD broke up. The share still has a negative Trend Factor though and the Rand weakening is helping.



Put on your safetybelt, it looks like a rough ride ahead.

Enjoy your day and holiday tomorrow.

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