S&P500 still in pos trend .... Support bounces in JSE

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Derek  11 Jun 2018


The East is following the US positively this morning. Only Australia that is negative.

The S&P500 was not influenced by the Technical Stocks correction, but we are in overbought territory as can be seen by the HeatMaps.

Warren Baffet's shares did not do great lately. I show Berkshire Hathaway that wants to break out of a large triangle. The yellow trend factor tells you that it has not done great lately.

His other main investment, Wells Farco Co, has a long way to climb to previous top and out of red trend.

Another main investment, Coca-Cola, is climbing nicely, but also has a long way to go. Notice where MACD broke up.

JSE Technical:
Just to frustrate investors, quite a few shares came back to touch its break line again and bounce on support.

Shoprite is one of them, but notice that the bounce is with divergence this time.

Similar situation for Barloworld.

I must show the weakening of the Rand too. Notice how the trend line has moved into a stronger weakening. Investments in the US are doing well as you get an additional profit from the weakening in Rand value.

I was told that it was Sanlam’s 100th birthday last week. What a way to celebrate it with a “Death Cross”? (see previous post for explanation)

You must enjoy your day.
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