Volatility at major turns .... Major supports

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Derek  29 Jun 2018

Morning,

International:
You always get high volatity at major turns. The reason is that the Bulls and Bears have to show who is in charge and the loser tries to claw back. We saw that the day before yesterday where the bulls attemted to turn the negative tied in the US and then the Bears stayed in control for the biggest intraday selloff. The Bulls did not like to loose and attempted again yesterday. This time the market went into negative territory after opening and then the Bulls took control to close positively. A real street fight at its best with high volatility.

All indices East and West positively. I show the HangSeng where you can see the Bulls took control this morning. Notice that this turn is happening on major support.



As promised I show Boeing. First 2 small body candles, then high volatily for a major negative day to be followed by a turnaround with a bullish candle. notice that the MACD have 3 green bars already.



My all time favourite, Bank of America, dipped 3 days below my major support to close on it yesterday. Notice all the indicators turning and the first MACD green bar.



JSE Technical:
I often see that when the JSE close positively, the US does as well. Yesterday was such a day again.

Notice how all the signals worked for Sasol. When FrontRunner broke up, trend line broken, MACD making green bars and cyclic signals turned, Sasol just took off.



I must show how Naspers turned on my support. Take note of all the indicators.



You must have a great weekend.
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