Record Highs for .... Something you aint seen before? .... Competition

    All Channels      Market Reviews  

Derek  27 Aug 2018

Good Morning,

All indices strong positive this morning. The HangSeng broke my trend line.
The NASDAQ and S&P500 closed at record highs.

See how the S&P500 just poked its nose above previous resistance in blue sky territory!

Now for something you have never seen before! You will recall that FrontRunner predicts a much higher high when it breaks above the overbought lines. Then when the new high comes, it is usually with divergence and time to take profit.

Advanced Micro Devices did exactly that, except for the latter part. NO DIVERGENCE, but a new high for FrontRunner. So what is FrontRunner telling us? There is still a much higher high coming in the future! It is certainly the firts time that I see this.

Nividia Corporation also broke top resistance. Most of my old favourites are in a strong trend. Just a reminder again, when a share is in a strong trend, cyclic signals must be ignored till trend line is broken. In the absence of a trend line, use the EMA8 line.

JSE Technical:
The 2 medical stocks I showed last week are moving very strong. I want to show 2 shares today that is in a very strong trend where I ignore cyclic signals.

The investors liked what they heard from Naspers meeting and it moved into a strong trend. First resistance is also broken. That is always a good method to decide that a share is in a strong trend, when resistance is broken.

Bid Corporation is also in a strong trend. It closed against next resistance. Notice that FrontRunner is showing divergence here, but it is not confirmed. Lets see if this resistance can be broken?

Sanlam has announced a competion again. You can try your skill in trading without losing money and the winner can win R25 000. To enter go here:

You must enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.