Markets Consolidate after .... Banks and Shops stars on JSE

    All Channels      Market Reviews  

Derek  2 Apr 2019

Good Morning,

Markets are consolidating this morning after yesterday's rally.

All the indices in the U.S. made breakaway gaps and place the bulls full in control again. Notice the Golden Cross of the S&P500 (50 day crossing the 200 day moving average).

My old favourite, Bank of America, gave my super signal 3 days ago and then blasted off yesterday in the rally. My super signal is when FrontRunner breaks up and the MACD makes a green bar after a series of red bars.

And the unexpected winner of the day was Wynn Resorts with a +8.4% gain. I marked the divergence on support before it broke the EMA8 line. Notice that the trend factor moved into positive territory again (yellow).

JSE Technical:
As expected, the Rand strengthened after a non Moody's grading and that gave the Financial sector and shops a big boost.

Standard Bank also made a breakaway gap. I marked my super signal on the chart.

Barloworld also made a golden cross 12 days ago and the blasted off the past 2 days.

Sorry about the Market Review glitch yesterday. Technology is great .... when it works!

Enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.