China tariffs set to take effect ....

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Derek  6 Jul 2018

Morning,

International:
The tariffs Trump introduced so far is starting today. I heard of one boat that raced against time to North China to miss the first tariffs. Asian markets dip as these tariffs are about to take effect. Trump is looking at more tariffs, so who knows what is coming next?

And then the US had a positive day again to alternate the previous negative day. This pattern still continues between my 2 resistance lines for the S&P500. Notice that it is this time touching the top resistance line and trend line.



Most of the share graphs of the S&P500 looks like the graph of Jacobs Engineering. They are either breaking trend line or on the verge of doing so. The FED minutes ahead of jobs report gave the shares in the US a boost.



JSE Technical:
After being positive all day, the JSE corrected back when the US turned negatively at early trading. You can see this negative candle on all the banking shares. I show Standard Bank.



Although resources closed positively, notice that they did not close at the high of the day. I show this for Anglo American.



Enjoy your day.
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