And then they took off! .... Market turns of S&P500

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Derek  17 Oct 2018

Good Morning,

International:

And then the markets took off like a rocket! I want show the previous turns of the S&P500. I numbered them for easy reference.

1 Turn 1 came with divergence with FrontRunner.
2 Doji candle
3 Divergence with FrontRunner and consolodation on support
4 Hammar candle
5 Doji and trend line break
Also notice that it all happened on a support or trend line.

This can still be a leg b of an abc correction, as I do not like the FrontRunner warning of a lower low, but in the short term we are moving positively.



The DAX also broke its trend line and all markets are moving together.



It is the Dark Green trend factor shares that moves the fastest. Advanced Micro Devices made a +7.31% gain.



My old favourite, Bank of America, bounced on strong support to break trend line, Frontrunner and a green MACD bar all at the same time. If you have been following this market reviews, you will know that I like it when everything works together.



JSE Technical:
The JSE is also following world markets. The biggest gains came from the financial sector. I have been showing FirstRand recently, but must show it again. I marked where the signals turned positively.



While all these corrections were taking place, Exxaro Resources ignored all this and moved sideways between two tigh resistances. Are we going to see a break?



You must have a great day.
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