War on Friday 13th .... Opposite of Golden Cross ... Resilient

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Derek  16 Apr 2018

Morning,

And then Trump made war on Friday the 13th! Another uncertainty for the markets.

International:
The East has mixed markets this morning after the war on Friday. HangSeng down with other markets slightly positive.

Let us see where all this happened. The DOW made a correction against my trend line. Notice the perfect triangle the DOW is busy forming. a Break out of this triangle will give new direction. Could be up or down?



Quarterly results of Bank of America gets announced today, so lets show how the war stopped its latest trend with an "Engulfing Bear" candle. All this happened in neutral area and the futures looks positive? I only like candle signals when they happen in overbought or oversold territory and then they still need confirmation.



JSE Technical:
Resources are still in an up trend and were the best performers on Friday. Notice how the HeatMaps for Anglo are slowly turning red as we get closer to the top resistance. We still have rising bottoms in FrontRunner too.



The banks are still building on support and all the graphs look about the same. Look how RMB Holdings touched support 8 times in the last 11 days.



Opposite of Golden Cross:
I touched on the Golden Cross last week and could not remember what the opposite is called? Google came to the rescue. When the 50 day moving cross the 200 day downwards, it is called: "Death Cross". Keep in mind the these moving averages are very slow and daily volatility does not influence it. I show an example from the internet.



Resilient did an investigation into something???, but did not investigate the allegations!!!! They say the investigation is not worth the paper it is written on and the allegations remain unanswered. I only mention this to show you where the Death Cross occurred for this share. And even better, our TrendFactor turned red about 2 weeks before the Death Cross. Not a share to consider, I only wanted to illustrate again that you must stay away from red trending shares.



Enjoy your day.

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