New Trade-War Rumblings .... Resistance Strength

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Derek  10 Aug 2018

Morning,

International:
New Trade-War rumblings makes the markets take a breather.

It is interesting where it is happening! Quite a few indices world wide are against resistance. I will show two.

The ASX of Australia is making a doji against its strong resistance.



The NASDAQ is also making a doji against its resistance.



I must show another one as you do not often see that world markets are 100% in synchronisation. Look at the FTSE 100 against its resistance.



A system that I now use regularly with great success is the following:
1 Heatmaps are oversold (dark green)
2 Share must have a positive trend factor (yellow or green)
3 FrontRunner breaks up
4 MACD makes a green bar
5 Negative trend line gets broken.

The price can only go one way? I show all this for Michael Kors Holdings. I marked the 5 steps on this chart and notice how the share took off like a rocket!



JSE Technical:
The JSE was closed yesterday, so charts shown are a day old.

Bidvest managed to climb slowly out of a negative trend factor into positive territory. It is however currently in overbought territory.



Since MTN started having problems with all its Africa ventures, it is a share I am not intersted in. The latest sanctions agains IRAN will also influence them. With all that in mind I was not surprised when they came with poor results. In TradeFX they had a red Trend Factor since January, warning you to stay away. Its latest results made it drop -8.11% in one day. I am only showing this to warn you to be cautious when a share has a red Trend Factor .... I stay away!



Resistance and Supports:
Just a reminder again that the more touches a resistance or support has, the stronger it becomes.

You must have a great weekend.
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