Only tip of iceberg .... Invest abroad

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Derek  9 Nov 2018

Good Morning,

You must realise that I can only show the tip of the iceberg in these market reviews. You can see it all by downloading TradeFX and use it free for a month.

International:
Stocks closed mostly lower in the US as FED stands pat on interest rates.
The East is also all negative this morning.

You can see how the S&P500 closed with a doji in overbought territory as shown by the red HeatMaps.



The share moves were mixed with the current uncertainty. ANSYS was one of the shares that was not bothered with all this and carried on with its latest strong move with a gap.



So did American Express. I am showing this chart just to show again that the turn came on strong support (support was touched many times) and with divergence. Divergence on strong support is your key to buy, and divergence against resistance is your key to sell.



JSE Technical:
In an interview with the economist Dawie Roodt, he said that if you have spare cash, take it out of South Africa. My suggestion is that you MUST invest abroad.

After the latest strong run, the Finacial Sector met resistance. I show Discovery, where close to strong resistance, FrontRunner broke down, the MACD made a red bar and we are in overbought territory. Notice how many times the resistance line was touched.



FirstRand did touch my resistance line and then gave the same signals as Discovery. So did many of the Financial shares.



These days it is easy to invest abroad as you can buy about any share in the world at your local broker. I prefer to concentrate on the S&P500 of the US and these market reviews also do that. If you are starting off small, just look at the 30 shares of the DOW.

You must have a fabulous weekend.
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