Who said World markets do not move together?

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Derek  30 Apr 2018

Morning,

International:
World markets move together. To illustrate it I must show the DOW again. Those of you who have been following this market review will recall the triangle I show of the DOW. It closed on the top leg last week.



Now lets show the HAngSeng. Pretty much the same triangle! Notice that the HangSeng broke the triangle this morning to the top. FrontRunner also broke to the top. All very positive moves and the East is all positive. Even Tencent broke its negative trend line.



You will recall me mentioning that you cannot miss good results on a chart. I illustrate it again with Chipotle Mexican Grill. Notice how the trend factor changed from dark red, to light red and finally to yellow. Better days ahead for this company! The gap was created with the results during reporting season in the US.



A more known company, Fedex Corporation, is busy forming a J-Curve on my support trend line.



JSE Technical:
A very negative report was published last week by JPMorgan for the Platinum Industry. In essence one must stay away from this sector. I show Impala Platinum Holdings that has a very dark red trend factor (3rd colour line below chart) in any case. One must only look for oppertunities where you have positive trend factors.



Discovery corrected all the way to my first support to form an Engulfing Bull candle on support.



Dark Disk:
You must ignore the dark disk with exclamation mark on the JSE charts. It only shows that the data is old due to the public holidays. Usually this warns you to update your data. Tomorrow is a public holiday again .... enjoy. We will only have market news on Wednesday again.
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