Apple growth forecast .... JSE against current trend

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Derek  4 Jan 2019

Good Morning,

Apple's growth forecast send everyone running and made the US show severe losses. The HangSeng is about the only index that is not following the US and moving positively this morning.

The DOW dipped below the EMA8 line again with a -2.83% correction.

The HangSeng is still in a downward wedge, but positive this morning.

I must show Apple that was the cause of the latest correction. I do not know when last you tried to buy an Apple phone? I had a look yesterday and I think they are pricing themselves out of the market for the ordinary man in the street. Only the rich can afford their top range phones now.(R22 500) Notice that Apple has been in a negative trend for a long time now and even the Trend Factor is dark red.

Berkshire Hathaway also corrected severely with the rest of the US. Notice how this share touched the top resistance 4 times before the corrections started. This is a very strong resistance line. It will take quite a while before this line gets tested again!

JSE Technical:
I could not find any major reason why the JSE went stronger against the world trend?
Sanlam was one of the strong performers. It is currently against resistance that needs to be broken if we are to see further gains.

With world markets correcting, gold shares were the best performers this week. Harmony gained +12.58% the past week. Notice that it is slowly moving into overbought territory.

You must have a great weekend.
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