Derek 22 Nov 2018Good Morning, International: We had a bounce in the US, but not very convincing. Notice that the S&P500 could not move above the previous day's high. No FrontRunner break, nor green MACD bars. Only the Heatmaps are moving more into oversold territory. ![]() Small moves in the East as well. The ASX of Australia is the only one showing good signs of a turn. FrontRunner break, trendline break, green MACD, but still far below the EMA8 line. I showed the divergence yesterday. All this is happening in oversold territory as shown by the HeatMaps. ![]() Very promising signs at Tencent. It is touching the 50 day moving average for the first time in a very long time. I show again the divergence where the turn was and since then we had rising bottoms in price and FrontRunner. ![]() As none of the bounces convince me yet, lets show the bounce of E*TRADE Financial Corp that looks the most interesting. I marked the flag this share formed and notice that the bounce is still inside the flag. a Break to the top will be the same distance as the flag pole. ![]() JSE Technical: Anglo American's false break took it down to its 200 moving average again. This acted as support in the past. I marked where it was on this line before and notice that it was in oversold territory everytime. ![]() See how Mondi is struggling to break its negative trend line. All cyclic signals must be ignored until this trendline is broken. It even moved into a red trend factor now. ![]() The uncertainty might continue for a few days after the strong correction as the Bulls and Bears must show who is in charge. I want to see some positive trend line breaks before I will believe the bulls are in control again. Enjoy your day. |
Download TradeFX™ |
Copyright © 2017 {Zoclee}™. All rights reserved.