Markets across the Globe Correcting

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Derek  30 Jul 2018

Morning,

International:
The NASDAQ has started correcting with Facebook. Notice that my positive trend line is broken. The East is following this correction.



Facebook is also affecting quite a few shares. Apple is also correcting against resistance with divergence.



You might notice that when a share is overheated, the corrections come fast and furious. You can see this on the chart of Moodys Corporation. Also divergence here.



JSE Technical:
Not much to get excited about on the JSE?

Since Steinhoff escalated their property values, no one is believing the property sectors values, at least not me. This sector has also fallen severely after the Steinhoff crash. Even Growthpoint properties started to move into a red trend factor.




Anheuser-Busch has been in a red trend factor for quite a while. Its latest sales figures will not help him to get out of it. Look at the divergence before the latest correction.



You must enjoy your day.
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