Upbeat earnings from Cisco and Walmart

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Derek  17 May 2019

Good morning,

International:
When markets are oversold and even Trump cannot tweet it lower, it only needs a spark to move positively. This came in the form of upbeat earnings from Walmart and Cisco.

The S&P500 broke the 50 day moving average, EMA8 and trend lines.



The DAX was another strong mover yesterday. Notice how the 50 day moving average acted as support.



It was then no surprise that Cisco was the strongest mover on the S&P500. Notice the gap and how all resistance lines were broken.



Many shares did not close at the high of the day .... maybe thinking what tweets to expect this weekend? Notice how the 50 day moving average, as well as the 200 day moving average together with the EMA8 line acted as resistance at the high of Berkshire Hathaway.



JSE Technical:
Resources moved positively as the 200 day moving average acted as support.



Kumba Iron Ore made the strongest bounce to close just above the EMA8 line.



You must have a great weekend.
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