Live data can confuse you .... Nothing exciting on JSE

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Derek  9 Jan 2019

Good Morning,

As you know, we concentrate on end of day (EOD) data. I just want to show you a live data from the US this morning. It opened positively and then dipped all the way into negative territory only to close positively.

Asia is sharply up this morning on Trade-Thaw hopes. Since the break of the EMA8 line, the S&P500 is now 3 days in a row positive.

Let's show the ASX too. It is now moving strongly and has broken the 50 day moving average.(Blue line)

Since the turn of Netflix, it has moved strongly into overbought territory. But do notice that FrontRunner is warning that this is not the high. A higher high is still to come after some cool down. We will keep an eye on this.

JSE Technical:
There is nothing exciting to show on the JSE as most shares are in neutral area. Let's show the Satrix 40 that is slowly moving positively, but closed negative for the day. The first phase of a bull run is always slow .... is this the first phase for the JSE?

Enjoy your day.
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