US break out .... FrontRunner prediction

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Derek  7 May 2018

Morning,

International:
The Trade-War negotiations are now concluded and the market reacted positively in the US. I had more than 40 trend line breaks, but more than a 100 EMA8 breaks in the S&P500 on Friday. Remember that some of them have broken a few days before.

I show the HangSeng that is bouncing off support this morning, but still inside its triangle.



The US was dominated by Warren Buffet's annual meeting of Berkshire Hathaway. He believes that the trade relationship can be a win-win situation for the super powers. It was also reported that he bought 75 million shares of Apple. That made Apple smash top resistance to record a new high. Notice that with all the sideways movement of Apple the last month, that the TrendFactor even turned yellow for a small time period.



My old favourite, NVIDIA Corporation, is one of the shares that broke its trend line 2 days ago.



CME Group is one that broke its trend line Friday and notice the bounce on very strong support.



JSE Technical:
I must show the prediction of FrontRunner again, as one does not see it too often. When FrontRunner broke way above the 3 thin red lines for Netcare and recorded a new high, FrontRunner's prediction was that a new high will be following. Currently Netcare made the new high 4 days ago, but this time FrontRunner is not confirming the latest high and showing divergence. Since then the price started moving sideways. Still a share to watch for buying oppertunities as its Trend Factor also changed from red to yellow to the current green.



Truworths has now touched strong support 10 times the last month and also attempted to break the trend line. Hopefully the positive sentiment will give it a blast.



Enjoy your day.
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