This might be turning point? .... Markets are designed to ....

    All Channels      Market Reviews  

Derek  21 Nov 2018

Good Morning,

The question everyone is asking:"When do the markets turn again?"
Lets look at the technical signs. All the US indices made a gap. Is this an exhaustion gap? We are starting to be oversold according to the HeatMaps and the DOW is on previous support.

Lets look at another index. The ASX of Australia is making a doji in oversold territory.
I explained the 3 stage correction in the shape of an elipse before. The ASX has done that now, and only the doji must be confirmed, then I say this is it for the turn. We also have divergence in place.

I see exhaustion gaps everywhere, a sign that the turn is near, if not today. Notice how Boeing dipped intraday below my strong support and then climbed back to close just above it.

I must show Coca-Cola that we have been following for quite a while. While the rest of the market shares were correcting, Coca-Cola was not. I showed before the chart pattern that played out and then we started to get divergence after FrontRunner broke down. The correction finally started yesteday after enough warning.

JSE Technical:
In the absence of anything exiting to show, lets look at Exxaro again. It has now in one day nearly touched my top and bottom resistance lines .... still moving sideways between these 2 lines.

Patience, patience, patience .... markets are designed to frustrate you!

Enjoy your day.
Download TradeFX™

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