Tech stocks rally and other markets follow .... Boeing

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Derek  12 Mar 2019

Good Morning,

Stocks snap 5-day losing streak as tech shares rally. The East is also strong this morning.

The NASDAQ managed to climb back above the EMA8 and 200 day moving average lines again.

Advance Micro devices, our strongest share in the S&P500, led the pack with a +4.31% gain.

Boeing lost -5.33% as China grounded 737 planes with other countries following. Notice that the previous open window (gap) is now closed and a new open window was created.

JSE Technical:
Since the unbundling of Old Mutual it has only moved sideways. Its latest results send it tumbling -5.46%. Notice how FrontRunner is showing that the bottom has not been reached.

The Financial sector is still in its downward phase, but in oversold territory now.

Enjoy your day.
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