Running for cover .... Never ignore this combination!

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Derek  11 Aug 2018

Good Morning,
As I am away Monday morning, I give you the latest news today. Hopefully back on Tuesday again.

I could only find 1 share in the International section of TradeFX that did not correct on Friday. The latest Turkey's lira crisis spotlights global risks and investors are running for cover.

The DOW corrected with a gap to break my positive trend line and also close below the EMA8 line.

Similar for my old favourite Bank of America. Also notice the divergence that was in place. I marked it on the chart.

Boeing has been correcting for quite a while and also dropped further with a gap. I wanted to show this share to take note when the correction started. It started with a long leg doji with divergence in place. One must never ignore this combination!

JSE Technical:
The Rand did not escape this world uncertainties and declined nearly 5% against the dollar. I show this on the graph of NEWWAVE USD.

Our banking sector was hit the hardest and declined the most. Rand Hedges on the other hand benefit from a weaker Rand. I showed Richemont previously making the J-Curve and it has made a jump with a gap now.

Who knows what is coming next? Brace yourself and tighten that safety belt.
Enjoy your day.
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