Then NASDAQ started correction too !

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Derek  22 Jun 2018

Morning,

International:
Markets were not in synchronisation with the NASDAQ making new highs and the DOW, S&P500, HangSENG etc. correcting. Then new Trade-War worries made the NASDAQ correct too.

Divergence with FrontRunner always show a true top. Notice the divergence and the Engulfing Bear candle for the NASDAQ.



The DOW had now 8 days straight losses.(9 is usually the maximum) Notice how FrontRunners break showed the top.



You might recall when I showed divergence of Boeing against resistance to start its correction. I show it again and notice that Boeing has now corrected into oversold territory. This share weighs heavily in the DOW and will most probably show the turn. keep an eye on Boeing!



JSE Technical:
The JSE just followed world markets lower.

In the absence of something exciting, I show Pick n Pay again that is trying to lift its head again against correcting markets.



Anglo closed below my first support in oversold territory. Notice, no sign of turn yet. MACD bars still red, FrontRunner below moving average and no warning candle of turn.



You must have a great weekend.
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