US blew biggest intraday gain since February .... OMU

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Derek  28 Jun 2018


After starting very positively, the Bears took over and we had the biggest intraday selloff since February in the US. We are in oversold territory, so the we are getting the first signs of the bulls that want to take over. It only shows again that one must be carefull of intraday moves.
The East is mostly positive this morning with only the Nikkei negative.

I show this selloff for the DOW. Notice that we have no FrontRunner break or green MACD bar yet.

The biggest selloff was with technology shares that were lagging the correction. You will recall that they were making new highs while the rest of the market was correcting. I show this selloff for NVIDIA Corporation. Notice that similar to the DOW, we have no FrontRunner break or green MACD bar.

JSE Technical:
The Rand started weakening again and some Rand Hedges lifted their heads.
Anglo American broke its negative trend line and we have a green MACD bar with FrontRunner waiting for today to break?

Similar situation for Mondi Plc.

New Listing:
After the restructuring of Old Mutual it is now listed as OMU. Only 2 days of data available so we will have to wait for the history to build up.

Enjoy your day.
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