High Volatily and uncertainty at current levels .... East Positive

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Derek  22 Oct 2018

Good Morning,

We have high volatility and uncertainty at current levels. See the 2 doji's in 3 days of the DOW. It touches the EMA8 line everytime, but does not have steam to break it yet.

The East moved positively this morning with only Australia negative. I must show the short term trend line break of the HangSeng.

To carry on with divergence as described on Friday. The DAX has unconfirmed level 2 divergence in place and is also just below the EMA8 line and above support. I call it unconfirmed as it is still moving negatively.

You can see the uncertainty on the graph of Apple too. It keeps on bouncing up and down around the EMA8 line without any clear direction.

Paypal Holdings was not bothered with all this uncertainty and even created a gap with its strong move.

JSE Technical:
The JSE is just carrying on with its negative trend or consolidating on support.

Just to show some consolodation, Life Healthcare has now made 7 doji's on support the last 14 days. It also has a very red Trend factor.

Clicks announced its results last week and is one of the few shares on the JSE that wants to break out of it negative trend. Notice that it touched support 5 times while waiting for the results.

When you least expect it, and when all the fear investors has been shaken out of the market .... it turns?

You must enjoy your day.
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