Chinese prediction .... Set for Worst May tumble in 50 years

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Derek  14 May 2019

Good Morning,

A Chinese prediction that Trump will not win the next election made him furious. My prediction is that we are heading for a Trade-War No-Deal? Another prediction from the U.S is that we are set for the worst May tumble in 50 years.

The previous Trade-War tumble took the S&P500 down -20%. Currently we are at -4.8% and on first support. Notice that FrontRunner is about to dip below the 3 green support levels. This means that the low has not been reached. I marked on the chart the previous time it dipped below these levels .... not a pretty picture!

Intel Corporation is one of the biggest losers so far, starting with gap with poor results and now the Trade-War is making it sink further.

Apple crossed the 200 day moving average downwards with a gap. Notice where FrontRunner broke down.

Similarly for my old favourite, Bank of America. I also marked the FronRunner break on its chart.

JSE Technical:
The JSE is just following world markets lower. The Satrix40 broke first support.

The only light on the horison is Sasol with a rising oil price. Notice that the trend line is not broken?

If you are looking for someone to blame this MAY, look no futher than T????

Enjoy your day.
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