Tariffs and Demand? .... JSE Indices correcting down

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Derek  11 Feb 2019

Good Morning,

The DOW broke my trend line and closed with a small body candle on the EMA8 line. To see this better, one must zoom in quite a bit.

Tariffs and demand weigh on outlook for some shares.
Although Cisco Systems closed above the EMA8 line, it is believed to fall in the previous mentioned catagory.

I have a lot of shares just hesitating at the EMA8 line or those that broke trend lines. JPMorgan Chase is one that broke both the EMA8 and trend lines downwards.

JSE Technical:
Not a good week on the JSE. I showed last week how the few good performing shares were showing signs of breaking down.

The Satrix 40 touched resistance 9 times in 14 days and then took the direction downwards. Trend line also broken.

I showed before that Sanlam cannot break top resistance and that divergence was in place. (Divergence is marked on chart) It now also broke bottom support.

We did a changeover to another supplier of data for the US. See the previous announcement.

You must enjoy your day.
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