Record Highs for NASDAQ and S&P500 …. Gaps Performances

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Derek  29 Apr 2019

Good morning,

International:
The S&P500 and NASDAQ closed at records as robust DGP data offset tepid earnings.

Notice how I adjusted my trend line for the S&P500, especially at the bottom where I did not use the spike at the bottom.



AMD is scheduled to report first-quarter earnings after the closing bell on Tuesday, fresh on the heels of its larger rival Intel that saw its price plummet -8.99% on Friday. I am not taking this chance with AMD, but rather played save and took profit! Too many shares in this sector did not meet result expectations. With the latest addition of Intel, I count 8 out of 30 shares that is depressing the DOW currently. Rather stay with the S&P500 that is a better spread of the market.



After being depressed for more than two years and even dropped out of the DOW, General Electric is suddenly making strong moves. Could the new CEO have made such a difference in such a short period on its results to be announced on Tuesday? Or is this insider information telling us about better results?



You might recall that I mentioned that you must not be afraid of gaps. At that time I showed Disney. I show the graph again and notice how it has moved since the gap. There are plenty similar examples in the S&P500.




JSE Technical:
Resources corrected to the 50 day moving average. Notice that we are moving into oversold territory.



FirstRand made a bounce on the 200 day moving average.



I see that they are already speculating how much of Apple's cash pile will go to investors? Results due tomorrow.

Let’s see if the S&P500 can remain above its break resistance line?

Enjoy your day.
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