Bear Market Bounce? .... Trade-War negotiations

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Derek  4 Feb 2019

Good Morning,

International:
All markets ended the week flat awaiting the Trade-War negotiations outcome. The question everyone is asking is whether this is only a Bear Market bounce? Technically most indices are just above or just below the 200 day moving average. The next few days will tell if the 200 day average will act as resistance again or get broken substantially to put us in a Bull market.

You can see the hesitation of the S&P500 with a doji at current level just below the 200 day moving average.



Sorry, I forgot to add the graph of Advance Micro Devices on Friday. So let's start with its graph again. The same hesitation is on this graph with a doji. Notice the FrontRunner warning!



After the gap 3 days ago, we had 3 small bodies against resistance for Boeing. This looks like an exhaustion gap to me?



See how the 200 day moving average is acting as resistance for Global Payments. It has been touched 8 times in 12 days.




JSE Technical:
You may recall when I showed Anglo American Platinum breaking top resistance. At position 1, Frontrunner was warning that a new high was coming. At position 2 the new high was made, but now we have the first negative candle with divergence in place.



After its recent run, the Financial Sector is showing divergence against resistance.



You must enjoy your day.
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