Netflix led tech rally .... The Trend is you Friend

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Derek  16 Jan 2019

Good morning,

Netflix led the US technology rally and the NASDAQ closed +1.71% higher. Notice that it just closed above the 50 day moving average.

Well, then it is only appropiate to look at Netflix that gained +6.52%. Notice that all my long term trend lines are broken as well as the 200 day moving average. It will be quite a while before the 50 day would cross the 200 day to give a golden cross. That is why I do not like it, as it lags too much. touched the EMA8 line with a doji before it also took off. Notice how the EMA8 line supports the trend that is more important than the cyclic signals.

JSE Technical:
Sanlam only hesitated 2 days at resistance with a doji and a cyclic signal, before the trend continued to break top resistance. Notice that at the hesitation it never closed below the EMA8 line.

FrontRunner is warning that the high of EXXARO has not been reached! After the J-Curve it just took off.

I can only conclude with the old saying: "The Trend is your Friend".
We will have to wait and see how Brexit is going to influence the markets?

Enjoy your day.
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