Earnings Growth hits a wall .... Strong Support

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Derek  12 Feb 2019

Good Morning,

International:
One strategist warned that the stock market may be in for a rude awakening as earnings growth hits a wall. Markets can also be influenced by the new round of US / China trade talks that kicked off.

The US was mixed with the DOW lower and the rest marginally higher. The East is all positive this morning.

See how the S&P500 is making a doji just above the EMA8 line. The index is still caught between the 200 day moving average and my trend line.



The gremlins in the data changeover seems to be sorted and I can now show what the HangSeng looks like this morning. It crossed the long term negative trend line and the 200 day moving average. Unlike the S&P500, it is in BULL territory.



NRG Energy remains in a strong trend.



Apple bounced down from my long term trend line and they warned about future sales. Notice the red trend factor.



JSE technical:
I showed yesterday how Sanlam made a strong resistance. Today I want to show how Dis-Chem started building a strong support after the 3 stage correction. It was building a launching platform that was touched 5 times and with that divergence in place, it just had to launch.



The Financial Sector is still in a strong correction.



Enjoy your day.
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