One by One they start correcting .... Foreign investers dumping SA stocks

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Derek  7 Mar 2019

Good Morning,

International:
US investors brushed off China stimulus and the US is correcting further. All three main indices are now below the EMA8 line with the perception of small growth potential, the stocks are correcting one by one.

I show the S&P500.



Boeing was another share in the DOW that started its correction by breaking the EMA8 line. Notice that my FrontRunner trend band has also been broken.



Pfizer is already well on its way with its correction. I show where FrontRunner broke down.




JSE Technical:
Bloomberg says that foreigners have been dumping SA stocks for the past 11 days.
They have sold a net 25.4 billion Rand for the year to date. Just shows you what uncertainty does! They also mentioned that the JSE stocks are the cheapest compared to other emerging markets and is missing out on a "wall of money" flowing into emerging markets.

The new listing, MultiChoise, finally found support and broke my short term trend line.



KAP started its correction with divergence and has now broken the 200 day moving average too. Notice that the trend factor has also changed to red.



You must enjoy your day.
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