Bumpy ride ahead .... Weakening Rand

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Derek  16 May 2018

Morning,

With a new round of Trade-War negotiations starting, you can expect a bumpy ride ahead.

International:
The US was all negative yesterday. Asian markets slump amid new worries from North Korea. Markets do not like all these uncertainties.

All indices have broken positive trend lines. I show this for the S&P500. Notice how it touched the EMA8 line to recover slightly for the day.



All the charts look about the same. Overbought territory, trend line broken, FrontRunner breaking down and MACD making a red bar. You can see all this on the chart of JPMorgan Chase.



Notice that this sequence happened 3 days ago for my all time favourite NVIDIA Corporation. No share just goes up in a straight line .... they all make corrections too.



JSE Technical:
A few shares did move positively on the JSE, only because of the Rand weakening. I show NEWUSD where you can see the weakening of the Rand. This will benefit all abroad investments.



Sasol is one share that benefitted from this weakening Rand and smashed top resistance. Notice that the trend line was never broken.



Enjoy your day.
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