Back in overbought territory again …. KISS principle

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Derek  25 Sep 2018

Good Morning,

After a nice holiday, I have lots of ideas to refine our Spotlight search even more and create a Super Signal search where everything works together. You most probably know the KISS principle? “KEEP IT SIMPLE STUPID” I only want a signal when all cyclic indicators are in oversold territory and I then get a FrontRunner break together with a green MACD bar within 2 days from each other. They do not always happen on the same day. Obviously the reverse signal is important too. That should be very simple …. Watch this space.

International:
Looks like I missed the turn while on holiday, but opportunities repeats themselves over and over. One needs to learn to be patient and wait!!!! The latest Trade-War premiums started this week and Italy has a crucial budget to be watched .... all factors for a correction in overbought territory. While the JSE was closed yesterday, the US had mixed closes with only the NASDAQ with a shaky positive close.
The EAST is also mixed this morning with the HangSeng -1.62%.

For the DOW you can see that the turn came on a support and a trend line. But do notice the high volume in overbought territoty on Friday. Then yesterday it made an evening star candle formation together with my suggested super signal.



Similarly the FTSE 100 is finding resistance against its resistance line and the 200 day moving average in overbought territory.



As Boeing is nearing its resistance line .... notice the Heatmaps .... everything in overbought territory. And we have a FrontRunner break down together with a red MACD bar. (My Super Signal again)



One of the few shares positive was Abbott Laboratories that made a gap! Is this an exhaustion gap? Time will tell.



JSE Technical:
Banks made a nice turn a few days ago. I show RMH Holdings where I marked my Super Signal mentioned earlier.



I show the same signal for Sanlam where it occured in ovesold territory. Can you spot the other 3 occurences? Not? That is why we need the Super Signal!



DATA
Although TradeFX is a end of day (EOD) program geared for medium to long term investments, interim data is downloaded every 20 minutes for the main shares. I prefer to run an update about 12h00 and 16h00 to see if some strange moves are taking place on the JSE. The US data is only EOD.

Any ideas are welcome as we are here together to grow. I test all ideas before we include it in TradeFX, as we only want the best included, and not make it too complicated.

You must enjoy your day.
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