S&P500 smashed all resistance .... East following

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Derek  9 Jul 2018



The US now finally smashed my trend and resistance lines. Notice where FrontRunner started breaking up and the MACD making green bars. Remember that I always look at the bars of the MACD as the cross over lags too much.

I must show the HangSeng too. 4 Small bodies in the last 6 days. The candle on Friday was a Richa doji. Also notice the divergence. When you get all this in an oversold territory, a turn must come. This morning the HangSeng also broke its trend line to follow the US positively. What happened to the Trade-War?

There are too many shares to show in the US, Lets show Charles Schwab Corp. It made an engulfing bull candle on support in oversold territory with divergence.

JSE Technical:
After being positive, the JSE dipped again in late trading to close negatively on Friday.

After such a negative day, Naspers did stand out to close positively. Notice the J-curve it is forming.

Another share that is still moving positively is Astral.

I heard on the radio an analysts saying that world markets had the worst performance in 6 months. If you look at the graph of the HangSeng, the last high was at the beginning of January and the last low on Friday .... no wonder we had a poor performance. I am sure that the Trade-War scare will lure its head again, but for now I see a turn.

You must enjoy your day.
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