US remains positive .... JSE remembered about budget?

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Derek  20 Feb 2019

Good Morning,

The US remained positive, although only marginally due to new Trade-War worries. Only Australia is negative this morning.

The NASDAQ was the best performer and notice the positive trend line.

Wal-Mart stores jumped with a gap. Because FrontRunner is warning that a higher high is coming, I must assume that this is a continuation gap.

Pfizer is making a perfect J-cure and is busy to complete the vertical leg of the J.

JSE Technical:
And then suddenly everyone remembered that it is the budget speech today and all stocks retreated.

Sanlam bounced down from the EMA8 line. I also do not like the warning of FrontRunner that a lower low is coming.

More contracts with EOH were cancelled last week. There are also allogations of State capture corruption here. I am showing the weekly chart of EOH to show how it has collapsed from R 180.00 to the current R14.61. It looks just as bad as Steinhoff. Brait is just as bad. Shares to stay away from!

FrontRunner is a technical indicator designed by Zoclee that is not available in any software other than TradeFX. It is very accurate in showing long term tops and bottoms of markets with divergence and predicting new highs and bottoms.

I do not have much hope for the Budget, but lets see if they can pull a rabit out of the hat?

Enjoy your day.
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