S&P500 earnings raised by 4% .... Markets moving together

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Derek  10 Jul 2018


The US had another strong day and the Asian markets add to the gain. Only Australia that is negative.

The Bank of America has adjusted its forecast to increase the S&P500 earnings by 4% for 2018.

I show the S&P500. Notice where the MACD bars started turning green and FrontRunner broke up. The lagging cross over of the MACD is only happening now.

Bank of America then also smashed my short term trend line with a +3.64% gain. Notice that the negative trend of FrontRunner is also broken!

Another strong gainer was Caterpillar with a +4.11% gain. Notice how it consolidated for 6 days on support after breaking the trend line with huge divergence in place. Trade-War scare took the price of this share way down.

JSE Technical:
The JSE did not stay behind this time and followed world markets positively. All markets are moving together for a change.

After breaking top resistance, Sasol is still moving strong. This share is in a strong trend now and cyclic signals must be ignored . The trend is your friend!

Although I do not like showing negative trend factor shares, I do want to show Sanlam. This share has been moving negatively for quite a period as can be seen by all my red negative trend lines. It closed yesterday against 2 of them.

The Market is like a spring, the more you stretch the spring, the more vicious the contraction. The HeatMaps in TradeFX shows you the status of the springs for each share.
Enjoy your day.
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