Trade-War tensions ease

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Derek  21 May 2018

Good Morning,

Asian markets rally this morning as Trade-War tensions ease. The futures in the US are also all positive.

Interesting to notice how the HangSeng tested the EMA8 line 3 days in a row before the blast off this morning, once tensions eased between China and the US.

My friend that requested Alibaba in the International section, I hope you noticed how it blasted through resistance to make a 42% gain since the break? Look how quickly the TrendFactor changed to dark green with this massive move. Tencent and Alibaba are two of the major capital shares on the HangSeng and has a huge influence on this index.

There is no point in showing any US shares, as most of them will blast off after the Trade-War ease. The one share that was hardly influenced by this, and held the DOW up, was Boeing. Notice the slight J-Curve.

JSE Technical:
After Pik n Pay stores blasted through resistance with excellent results, it has now corrected back to support. Remember, previous resistance when broken become support.

We will have to see what shares will follow world markets today on the subdued JSE, so I rather just show Tencent that broke its 50 day moving average this morning. It is seen as all bullish when a share price is above its 50 and 200 day moving averages.

Enjoy your day.
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