Correction gets momentum .... Do not get elated about Trade-War deal

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Derek  5 Mar 2019

Good Morning,

International:
They say that investors must not get too elated about a US-China trade deal as most of it was already priced into the market. The US started a correction against resistance in overbought territory.

I marked the strong resistance line of the DOW where the correction started. The S&P500 has a similar line.



Boeing is showing its correction with divergence.



Illumina started its correction with an Engulfing Bear candle. Notice FrontRunner break and MACD red bar.



Estee Lauder could not break top resistance and has divergence in place.



JSE Technical:
The Satrix40 made 6 small body candles in a horisontal line while FrontRunner is moving down.



I am showing how the correction of Goldfields started for you to recognise the patern. First an Engulfing Bear candle, followed by a FrontRunner break and MACD red bar.



Enjoy your day.
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