All Markets Positive .... Inverted Hammer candle

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Derek  13 Dec 2018

Good Morning,

A rare batch of selling suggest that the stock markets may have reached "Rock Bottom".
All markets positive yesterday and this morning.

The DOW made an inverted hammer candle above my trend line. Notice the FrontRunner break and green MACD bar, but still closed below the EMA8 line.

Even after the large correction Advanced Micro Devices is still the share with the largest trend factor in the S&P500 due to good performance of the past. Notice how it is starting to make rising bottoms. FrontRunner broke up and you must zoom in a lot to see it, but MACD has a green bar.

Boeing also met all my requirements, except for closing above the EMA8 line. It also made a doji to still show some uncertainty.

JSE Technical:

Discovery also met most of the requirements for a turn and closed on the EMA8 line.

RMB Holdings made the same signals, but what is interesting here is the inverted hammer candle followed by a doji.

You can see how the indicators are one by one falling into place confirming a turn. More good news is that Tencent has even broken my long term trend line and moved back into a positive trend factor.

Inverted Hammer:
An inverted hammer is a very bullish turn signal. You can watch a video on this by just clicking on the blue words.

Enjoy your day.
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