Recession scare not valid .... Indicators coming together

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Derek  26 Mar 2019

Good Morning,

Most analysts in the U.S. confirmed that the latest recession scare is not valid. The U.S closed mainly unchanged and Asian stocks mostly gain this morning.

The DOW closed with a doji on the 50 day moving average showing the current move uncertainty.

Copart, one of our strong trend shares, according to the trend factor, only went sideways during the last scare. Always a good sign of a strong trend share.

Bank of America closed with a doji on the support that was created by the open window (gap). This window is now closed after the recession scare.

JSE Technichal:
The JSE is not the best market to be in in the world. The Satrix 40 has now corrected to first support. Notice how the index, support, trend line, 50 day moving average and the 200 day moving average are all coming together!

After the recent gains, the platinum sector started taking profits. I show Anglo American Platinum.

Enjoy your day.
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