No end to Trump .... Divergence with FrontRunner

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Derek  19 Jun 2018


Asian markets sink, led by Apple suppliers, on Trump's latest tariff threat. The Bears are having a great time with Trump.

This latest move of Trump made the HangSeng drop below Support and the 200 day moving average. I marked the divergence with FrontRunner at the double top.
While below the 200 day average, the HangSeng is technically in a bear market.

All the banks are trying to consolidate above strong support. I show this for JP Morgan. Notice that the support and 200 day moving average are about together.

I do not think that Trump's latest move is in the markets yet, as it was announced after the close of the US markets. The futures show some more corrections coming.

JSE Technical:
The JSE is also correcting with world markets, although it hardly lifted its head.

One of the few shares on the JSE that tried to lift its head was Sasol. It is however still below the EMA8 line and notice the divergence at the previous top.

Similar situation for Anglo that corrected to first support after the divergence at top.

Most other shares just got hammered. Brace yourself for what comes next from Trump? I wonder if he is doing insider trading before his announcements?

Enjoy your day.
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