Stocks Fall on Heightened Trade Worry .... Unconfirmed doji’s

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Derek  10 Dec 2018

Good Morning,

International:
There were so many long leg doji’s in the US for a turn, but none of them were confirmed on Friday. It is always best to wait for confirmation. Confirmation on a doji is when the price move positive the next day after the doji. Even better to wait for a EMA8 line break.

I think we will remember 2018 as the year where the Trade-War influenced the markets the most. Fear has taken the S&P500 all the way back to support again. The US is now looking at the FED for some relief .... they should actually look at Trump?
Notice how short the cycles has become compared to 2 months ago when you look at the trend lines I have drawn on the chart.



The DAX broke its triangle downwards. Notice that the trend factor has moved back to dark red confirming a poor performance.



Let’s show some of the long leg doji's that was not confirmed. Boeing made a very long bottom leg. The latest close is close to the bottom of the previous leg. Also notice where the FrontRunner breaks occurred for this share.



Look at the non confirmed long leg doji of HCA Healthcare. The doji closed just below the EMA8 line.



One more. The long leg doji of JPMorgan chase touched my support line. The current close is just above the support.



JSE Technical:
We only had some action at resources due to the weakening Rand. The rest of the market is just following world markets lower.

Kumba Iron Ore was one of the best performers. I marked where FrontRunner broke up and the MACD made a green bar.



I marked the same indicators on the Chart of Anglo. We have rising bottoms and my short and medium trend lines are broken.



It’s not a pretty picture worldwide and who knows what comes next? Trump is 99% of the uncertainty.

You must enjoy your day.
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