Stocks did close higher, but .... End of recent move?

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Derek  26 Feb 2019

Good Morning,

International:
Stocks closed higher as Trump delays China tariff deadline, but the markets started easing down, after opening, to close at the low's of the day. The East is also following this negative path this morning.

See this for the S&P500.



The ASX made an Engulfing Bear candle to break trend and EMA8 lines. Notice the divergence.



Align Technology was not bothered by this negative sentiment and continued on the path to close the open window (gap). Open windows always get closed in time!



I do however see plenty of negative candles, divergence in place and trend line breaks. This might be the end of the recent positive move. See all theses signals for Adobe Systems.



JSE Technical:
Bidvest has been moving sideways for quite a while between two strong resistance lines. In doing so it was moving in and out of a negative to a positive trend factor. The winner will be determined once one of the resistance lines gets broken.



The stronger Rand favoured the Financials and shops. I show Pick n Pay that closed just below it's 50 day moving average. (dark blue line)



Enjoy your day.
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