Resistance corrections .... Market Review Correction

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Derek  15 May 2018


In the early version of yesterday's Market Review I left out the Analyst Expert table at the end. Alwyn corrected this and it might be worth your while to have a look at that post again.

Although the US closed positively, it did so with small body candles with long legs to the top. This is another sign of profit taking. The East is negative this morning with a similar profit taking.

I show the HangSeng and notice that we are in overbought territory.

I must show the ASX of Australia too. It always amazes me that corrections happens against resistance.

Similar for Progressive Corp .... at resistance it breaks down. Notice the HeatMaps.

Look at the long leg doji of Align Technology. It gave the impression that it was going to break resistance, only to fall back and close on resistance.

JSE Techynical:
As mentioned before, the JSE never even got started. Every time it wants to ignite, the fuel just run out.

The only highlight was Sappi that had excellent results. It made an Engulfing Bull candle.

Enjoy your day.
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