Corrections are much faster than .... Away for 2 weeks

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Derek  7 Sep 2018

Good Morning,

I will be away on leave for two weeks. The next Market review will only be when I am back on 25 September. Try your hand at TradeFX while I am away. You can download it below and it is free for a month. Everything I show in this review are available in TradeFX.

International:
All markets are still correcting and it is only the DOW that managed to close positively. The DOW has only 30 shares, so it is easier for that index to close positively.

Markets correct much faster than gains as the fear factor steps in. The ASX in Australia wiped out 11 weeks of gains in only 6 days! I marked on the chart again where FrontRunner broke down and the MACD made a red bar. This is a very simple and easy system to use, but very effective. I prefer a trend line break with those 2 signals for the longer term investments.



I show the same signals for the NASDAQ, but also included the trend line break. Notice that the MACD red bar occurred a day after the FrontRunner break.



I show the same signals for Apple. Every good share must also correct sometime.



I counted 13 shares in the DOW that closed positively. I showed Coca-Cola yesterday that is still moving positively. Lets show Johnson and Johnson where I marked the same signals. Green bar for MACD and FrontRunner breaking upwards. Notice the flag that this share created and then bounced up from the long term trend line.



JSE Technical:
The JSE is like a yoyo as the Rand moves up and down.

The doji of the Rand the previous day was confirmed with a strengthening of the Rand. The doji together with divergence showed the top.



The doji of Sanlam was not confirmed. Notice that we have no FrontRunner break, nor a green MACD bar yet.



The Rand's movement made the Banks bounce again, but not very convincingly. Notice that we have no FrontRunner break or green MACD bar yet for RMB Holdings.



You must have a great 2 weeks in my absence. If you register above, you will get an automatic email every-time a post is placed. Do it, it is free.
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