Strong market moves!

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Derek  28 Aug 2018

Good morning,

There is the old saying: "When strong moves take place, you need to be in the market!"

All markets in East this morning are still positive.

The NASDAQ and S&P500 are making new highs, so lets show the DOW that is on its way to its previous high.

In TradeFX you can quickly see where the strong moves are taking place. You run Analyst Expert and then click on the heading Week% to see where the strongest moves took place. I did that and was not surprised to see Advance Micro Devices as no 1. You should notice NVDA and NFLX amongst the top 4 too. I marked a few of my old favorites too.

Morgan Stanley was lagging and broke its trend line. Notice the start of a double bottom? All strong trend shares are already making new highs, so it is the less strong trend shares that gives opportunities now.

JSE Technical:
Did you notice that Dis-Chem Pharmacies has managed to climb back into a positive trend factor? It is busy with a very strong trend.

The banks are taking turns to out do each other, so lets show something else.
Pick n Pay smashed its negative trend line to close on resistance. This was our previous support that did not hold and thus becomes resistance. Lets see if it can become support again.

Alwyn did another post yesterday about the competition. Have a look at it as it is a very good way to test your ability. I like the fact that they included the shares from the DOW too.

Enjoy your day.
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