Use result season to .....

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Derek  26 Apr 2018

Morning,

One must use the result season in the US to make adjustments to your portfolio. Get rid of the non performers and shift to the shares that did meet expectations. You do not need a balance sheet, as the graphs clearly show you.

International:
The US closed with the Nasdaq -0.05% and the rest positive.
The East is also mixed with the HangSeng and Australia negative and the Nikkei positive.

I show the DOW that made a long leg doji inside my triangle again. Notice that my bottom support and the 200 day moving average are touching each other. This is a double support. My money is on a break to the top out of the triangle .... we shall see?



Not often that one gets a perfect chart. A better chart than Nordstrom you will not easily find. Notice the support line .... very strong and we have a double bottom in the making.



Norfolk Southern Corp's is a good example of a share with good results. While the market is subdued, this share is flying. No need to check the balance sheet .... it is excellent!



JSE Technical:
The strike did not do the JSE any good. As if we do not have enough uncertainties on the JSE already?

The Banks were hammered lately. See how Standard Bank was brought back all the way to support again.



This is the norm for about all the shares on the JSE. Shoprite only moved slightly after the trend line break and has come back to support again.



The US must break out of its triangle before you will get much action on markets.

Enjoy your Looooong weekend.
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