US Surge as Trump .... JSE Financials and shops benefit

    All Channels      Market Reviews  

Derek  8 Nov 2018

Good Morning,

Sorry, I had some finger trouble this morning.

The US indices surged after Trump's hands are tied after the midterm election and his attorney general, Jeff Sessions, resigns (apparently on Trump's request).

All the technology shares ignited and made the NASDAQ gain +2.64%. I marked the divergence turn for the NASDAQ again on the chart.

Microsoft was one of the big gainers. I show the divergence on this chart too and notice that the turn came with a long leg doji.

There are so many nice moves, so I try to stay with the known ones and show the divergence turn for you to remember. Humana gained +6.68% and its turn came with a level 2 divergence. Level 2 means that the price divergence line wa horisontal. Notice that FrontRunner now predicts a new high still to come!

JSE Technical:
All the action in the US made emerging markets currencies strengthen. This in turn made financial and shop shares benefit the most on the JSE.

Woolies was the top gainer. Lets hope that better days are here for them as they had a bad year so far. I marked the level 2 divergence turn on this chart too.

The Spar Group turn was with a double bottom level 2 divergence and it has managed to move into a positive trend factor now.

Let's hope that markets normalise now with the latest developments.

Enjoy your day
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.