Trump busy with major miscalculation .... Weaker Rand

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Derek  26 Sep 2018

Good Morning,

International:
an Analyst of JP Morgan said that Trump is busy with a "Major Miscalculation". My personal feeling is that the TradeWar will come back and bite him?

Ahead of Fed rate decision, the US indices are still treading water with only the NASDAQ slightly positive. The East is all positive this morning.

Notice that the long term trend and EMA8 lines are not broken for the S&P500. We remain in a long term bull trend until these lines are broken.



Look at the similar situation for Berkshire Hathaway. It closed one the EMA8 line (Orange line).



Nividia Corporation made an abc correction and bounced up to close on the EMA8 line and touched my negative trend line. The Fed's decision on interest rates could have a major influence whether these lines will get broken.




JSE Technical:
The strong oil price together with a weaker Rand made Sasol bounce on support and the 50 day moving average.



The weaker rand also took Anglo to its top resistance. I do not like FrontRunner breaking down .... first warning to be careful. No sell candle, nor red MACD bar yet. If the Rand continues to weaken it might break top resistance, but we are in a heavy overbought situation.



Enjoy your day.
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