Worst Leadership .... Reminder of correction

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Derek  4 May 2018

Morning,

Although the US markets are reporting 80% better results than expected, the market does not take off? Why? They say that 2 contributing factors are that they have the worst leadership ever in history and rising interest rates. They also started new trade negotiations between China and the US and markets do not like uncertainties.

International:
The DOW closed higher than the opening, but still lower than the previous day. Notice the long leg candle still inside the triangle and the 200 day moving average acting as support. Asian markets are also quiet ahead of US jobs report expected later today.



The ASX of Australia, that was running away, also started braking. Notice how FrontRunner is breaking down and the MACD has its first red bar.



Although the overall market is stalling, results still drive individual shares. NRG Energy blasted to a new high with a +6.14% gain.



JSE Technical:
I showed Anglo Yesterday making an attempt at top resistance. Everything is possible in the markets, but FrontRunner gives divergence at this level signalling that it will have to take a major move to break resistance. I marked the divergence. Billiton looks similar.



All shares corrected back to support with the US. In the absence of showing something positively, I want to show Mondi. Ex-divident always causes a drop in price. Mondi went ex-divident and notice the drop that I marked. The choise always remains: Do I take the divident or not? If you take it, you will get a drop in price and if you sell before, you do not get the divident?



Reminder:
Just another reminder that you need to right click on the share/index name in the international sector and choose "Reload Data" to correct the indices. You need to do the same for the following shares on the JSE: AIP, BTI, CCO, CRP.
This procedure can be done for any share where you notice the data looks wrong. Please inform me if you notice some more at derek@zoclee.com.



You must have a great weekend.

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