Trump blames China? .... Simple Rule for a Turn

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Derek  9 May 2019

Good Morning,

Markets are still influenced by the U.S.- China fears. The latest is that Trump blames China by saying: "China broke the deal".

The S&P500 is now 2 days below the EMA8 line and it must be seen that we are in a correction phase. A simple rule for a turn is that the HIGH, LOW and CLOSE must be greater than the previous days high, low and close.

Red Hat is not influenced by the trade fear and even closed higher with a gap breaking top resistance. Notice that FrontRunner is predicting a higher high still to come.

Berkshire Hathaway is still correcting and nearing the 50 and 200 day averages. I marked divergence on the chart before the correction started. Although the high and low complied with the simple rule, the close did not!

JSE Technical:
The JSE was closed yesterday, but also corrected with world markets the previous day.

Platinum shares found support in oversold territory and even made gains regardless of all the negative sentiment. I show this for Anglo American Platinum.

Dis-Chem made a J-Curve and is close in having a positive trend factor again.

Now that the election is out of the way, we only need Trump out of the way to get stable markets again? Markets do not like uncertainties!

Enjoy your day.
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