Billion-dollar deals boost .... Averages acting as support

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Derek  21 Aug 2018

Good morning,

US stocks closed higher for a third session as billion-dollar deals boost confidence.
Only Australia is negative this morning with all other indices positive.

You can see on the S&P500 chart that the index is in neutral area moving positively.

Although technology shares are holding the US indices back, Netflix showed the first signs of turning. It closed against the EMA8 and trend line.

After the break, Boeing is still moving strong.

JSE Technical:
All the banks are on the verge of breaking my negative trend lines, but the weaker Rand is still holding them back. You can see this on the graph of RMB Holdings. It is on the verge of breaking the trend line and also at the 50 and 200 day averages that usually act as support.

After the Steinhoff crisis, I am not a big fan of PSG, but I show its graph for what its worth. The 50 day moving average is also acting as support here.

Enjoy your day
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