Trump bans Huawei .... Golden Cross that makes no sense

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Derek  16 May 2019

Good morning,

The U.S. gained after the tarriffs on transport were postponed. But that did not last long .... Asian markets mostly fall as Trump moves to ban Huawei. I said it before .... markets do not like uncertainty.

I show the S&P500, but in unpredictable markets .... be carefull. The S&P500 is below the 50 day moving average and touched it together with the negative trend and EMA8 lines.

Agilent technologies was the next technology share that took a dive. Notice how FrontRunner showed divergence when it made a tripple top.

When the 50 day moving average crosses the 200 daymoving average, it is called a Golden Cross. Well. JPMorgan Chase is making a Golden Cross! I do not see any gold on this chart other than the price is now nearing the 2 averages in oversold territory. Maybe the lines will act as support. I must state again that I do not believe in the Golden Cross as it lags too much.

JSE Technical:
The JSE also do not know whether it is coming or going. Notice how far the high and low is apart for the Satrix40 in oversold territory.

When unsure .... sit on the sideline and wait till the uncertainty is out of the way?

Enjoy your day.
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