DOW still moving strong .... Richemond

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Derek  19 Jul 2018

Morning,

International:
The DOW and S&P500 are still moving strong. The NASDAQ was about unchanged. I assume technology shares are taking a breather after NETFLIX did not meet expectations. The East is marginally positive this morning.

The DOW is still in a strong positive trend, but do notice that we are moving into overbought territory. This can be seen on the Heatmaps and where FrontRunner is.



American Express is one of the main drivers of the DOW that broke top resistance.

Berkshire Hathaway finally decided to catch up with the rest of the market. With its +5.27% gain it smashed a long term negative trend line, 200 day and 50 day simple moving averages. Notice where FrontRunner is. It tells us that a much higher high is coming. This share is in a bull run now.



JSE Technical:

The JSE is very hesitantly also lifting its head.

Kumba Iron Ore was one of the positive movers. Notice the indicators that I marked.



After a severe correction, Richemond broke its Trend and EMA8 lines. Notice the gap!



Enjoy your day.
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