US-China trade optimism persist .... Eskom Crises

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Derek  14 Feb 2019

Good Morning,

Stocks in the US closed positively as the US-China trade optimism persist.

The S&P500 made a doji just above the 200 day moving average. It did not break this average enough for me to believe that we are out of the woods into full Bull territory yet. Notice that the 50 day average (dark blue) is still far below the 200 day average (pink).

McDonalds Corporation is showing the first signs of a turn. After correcting into oversold territory, the indicators are starting to turn, but the close is still below the EMA8 line.

The graph of Home Depot is much the same as the S&P500. The price is at the 200 day moving average and the 50 day average is still far below the 200 day average. The trend remains positive though.

JSE Technical:
The crises at Eskom caused the Rand to weaken substantially. This in turn gave a boost to Rand Hedge shares. Lets show the Rand/$ first.

Richemont had the biggest gain of all the Rand hedges. After the long decline and then sideways movement it broke this negative trend with the weaker Rand.

Enjoy your day.
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