Fears of Global Slowdown Persist .... Will Moody's downgrade?

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Derek  27 Mar 2019

Good Morning,

Now that the fears of a recession is out of the way, fears of a Global Slowdown persist. Instead of listening to the scary talks, lets just concentrate on what the market is doing.

The S&P500 was up and down and finally closed positively with a small body candle on our previous strong resistance.

Although I showed Copart yesterday, I want to show it again. It still has the open window (gap) that is partly closed. It also has the flag pattern and is busy breaking out on the top.

Berkshire Hathaway made a long leg doji on support to close below the EMA8 line. Still a lot of uncertainty around.

JSE Technical:
The question everyone is asking: "Is Moody's going to downgrade SA on Friday?"
Is the weakening of the Rand a sign of what to expect?

Pick n Pay Stores bounced on strong support again to close just below the EMA8 line.

Kumba Iron Ore, one of the few strong trend shares on the JSE, is using the weakening of the Rand to break top resistance.

Enjoy your day.
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