Only JSE has many holidays

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Derek  2 May 2018


Unlike the JSE, the rest of the world did not have a holiday. The East is negative this morning and the DOW made another long leg doji inside the triangle we have been showing for some time now. Interest rate announcement later today in the US will have an influence on direction.

I must show the ASX in Australia as well that do not have any breaks. The only index positive this morning. Notice where FrontRunner broke up through its moving average and since stayed above it.

Activision Blizzard has the potential to play out the double bottom forming. This is one of the strong trend shares in the US.

JSE Technical:
Banks bounced on support and I show FirstRand.

Shops are doing a similar bounce like the banks. I show Truworths and notice the strong support line I have drawn. (Thick green)

Lets wait and see what the US interest rate decision is?
Enjoy your day.
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