Apple took off like a rocket while other markets are correcting

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Derek  2 Aug 2018

Morning,

International:
As expected, Apple took off like a rocket while other markets world wide are correcting. Not even the tweezer bottom of Tencent was confirmed and it is just correcting further. Trade-War is still having its effect.

I show the correction on the DOW as the NASDAQ was only driven by Apple.
Notice the divergence and that my trend line is broken. It barely manages to hold above the EMA8 line.



Apple smashed top resistance while the rest of the market is correcting.



I want to show one of the corrections. Global Payments made 9 touches in 11 days against strong resistance with divergence! It just had to correct.



JSE Technical:
To take land without compensation made the Rand immediately start weakening.
Notice that my strengthening trend line is broken.



The weaker Rand benefited Mondi that broke my trend line.



We are in very uncertain times in SA and with the Trade-War effect World wide .... so caution is the key! Markets do not like uncertainty at all.

Enjoy your day.
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