Growth worries corrected world markets .... Most Overbought

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Derek  23 Jan 2019

Good Morning,

International:
IBM's results sparked growth and trade worries again. That caused world markets to close deep in the red. This morning Asia opened negative, but managed to climb back into positive territory at the time of writing.

The NASDAQ corrected the most, but still managed to close above the EMA8 line.



NVIDIA Corporation was one of the shares that corrected the most on the NASDAQ. (-5.2%) Notice that it was in strong overbought territory.



Boeing did its correction with divergence in place. It was also in very overbought territory.



Humana was one of the few shares that went against the trend and closed positively. Do notice how overbought it is though.



JSE Technical:
A mixed day on the JSE with world markets correcting.

BID Corporation continued its slow positive trend.



Similar for Investec.



OVERBOUGHT
So how do you find the most overbought shares in TradeFX? Just run Analyst Expert on the index you want and click on the heading of FXC1 or FXC2 to sort the shares according to overbought or oversold. If you want to switch between oversold and overbought, just click on the heading again. I did it for the S&P500.



Enjoy your day.
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