Stocks dip amid growth noise .... Only negatives on JSE

    All Channels      Market Reviews  

Derek  22 Jan 2019

Good Morning,

International:
Although the US was closed yesterday for a public holiday, the futures and Asia stocks dip amid growth noise.

As the US was closed, let's show a few Indices. The HangSeng is still way above the EMA8 line, but broke my trend line. Notice the Divergence in overbought territory.



Same dip and divergence for the ASX.



JSE Technical:
As we are in overbought territory and my SpotLight do not even show any share on the positive side. So sorry, I can only show some negatives.

My long term trend line for KAP is still positive, but in the short term we have a double top with divergence.



After the break, Sanlam made 2 doji's against a new resistance. This time divergence is in place.



Capitec is another share making divergence against resistance. It closed on the EMA8 line.



Markets will most probably take a breather today, unless some positive news are announced.

Enjoy your day.
Download TradeFX™
 

Copyright © 2017 {Zoclee}™. All rights reserved.