Out of the woods? .... JSE still moving strongly

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Derek  6 Nov 2018

Good Morning,

a Wall Street analyst that called the sell off, now says that we are out of the woods. We know that too, as all the indices are above the EMA8 line and FrontRunner showed where the bottom was with confirmed divergence!

All indices positive with only the NASDAQ that is pulled down by Apple's correction. Notice how the NASDAQ still managed to close above the EMA8 line after dipping intra day below it.

Berkshire Hathaway is now moving on all cylinders and even created a gap after announcing that they are starting to buy back their own shares. I marked the divergence bottom on the chart again.

If you believe in onvesting in strength, then McCormick Company is the strongest share in the US S&P500. Notice that the previous crash hardly influenced the long term positive move of this share. It is just going from strength to strength.

JSE Technical:
The finacial sector is still moving the strongest, so lets try and show something else.
Some retail shares are also starting to move strongly. Pick n Pay has a positive trend factor now. I marked the divergence turn and MACD break on the chart.

Bid Corporation caught my eye when the trend line was broken. I marked the divergence and MACD break on the chart.

I never pass a divergence break, not even if it has a red trend factor, as it is so accurate. Stay with the current positive move and only let the indicators tell you what to do.

Enjoy your day.
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