Markets taking a breather .... Strong support

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Derek  22 Feb 2019

Good Morning,

All markets are taking a breather ahead of Trade-Talks finalisation.

The S&P500 is in overbought territory, but the trend remains strong.

Microsoft was not bothered by this breather and bounced on the EMA8 line.

After the continuation gap, Xerox Corporation is just moving from strength to strength. It has the 3rd strongest strength trend factor in the S&P500.

JSE Technical:
Santam announced good results and that boosted Sanlam to finally break the negative trend line. I showed its graph yesteday, so lets show something else.

After breaking its negative trend line, there is just no stop to Remgro. Notice how the turn was given with divergence. Hopefully it can move into a positive trend factor again.

Dis-Chem Pharmaties is not tired to test support again and again. It now touched my bottom support 12 times in 4 weeks. Another bounce yesterday. The more touches a support lines get, the stronger it becomes!

You must have a great weekend.
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