JSE is slowly turning positively

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Derek  4 Jul 2018

Morning,

International:
Volatility is still the order of the day in the US where Bulls and Bears each take a turn to be the winner of the day. It was the Bears turn yesterday and the East is also following this negative trend.

You can see this on the S&P500 chart where it has moved in a narrow band for 7 days in a row. Notice how the Bull and Bear days alternate each other. The break of the narrow band will show the new direction. We will keep an eye on this.



Here and there you find some shares breaking their trend line. Humana Inc is one of them.



The same movement as the Index can be seen on the graph of JPMorgan Chase. Notice how far the correction has taken this share?



JSE Technical:
While world markets are still correcting and the JSE slowly turning positively, it is actually outperforming World Markets in the short term.

One of our strong trend shares, Astral Foods, was then also one of the top performers yesterday with a gain of +5.02%.



RMB Holdings and some other bank shares broke a resistance line. I marked the divergence where the positive move started.



Enjoy your day
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