Results did not meet expectations

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Derek  25 Apr 2018

Morning,

International:
More results that did not meet expectations caused a sell off in the US. The East is also negative, but has improved from early lows.

You can see the sell off on the S&P500. Notice that we are still below the 50 day SMA. (negative territory)



3M Co is one of the shares where results did not meet expectations and got hammered. (-6.83%) Notice that support was broken with a gap.



JSE Technical:
The Rand is still weakening and Rand Hedges are benefitting.

You might recall when I showed Investec breaking its trend line. It has since moved substantially, but we are now in deep overbought territory. See the HeatMaps.



Dis-Chem Pharmasies is also struggling against resistance. It has not broken trend or EMA8 lines yet.



Enjoy your day and remember: The Market is designed to frustrate you!

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