Dead Cat Bouncing? .... Something Different.

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Derek  15 May 2019

Good Morning,

After the heavy losses, Trump tried to downplay trade rift with China as a 'squabble' as he mulls additional tariffs.

Was this a dead cat bouncing on the S&P500? All indices are still way below its EMS8 line, so technically still in negative territory.

Amazon made a doji at current levels to confirm uncertainty. Notice how far below the EMA8 line the share closed.

One share that was not influenced by the Trade-War is Red Hat. It even broke top resistance with a gap.

JSE Technical:
The JSE made a similar non-convincing bounce. See the doji of the Satrix40 only touching the trend line before closing lower.

I want to show something completely different to close with. Notice how the trend factor changed for Bitcoin before it took off like a rocket. I only want to stress the importance of the trend factor. (3rd colour bar below chart)

Enjoy your day and do not get fooled by Trump.
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