Despite Trade Tensions .... Shares making a Bounce

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Derek  22 May 2019

Good Morning,

Despite trade tensions, we had a bounce in the U.S. Asian markets cautious amid lingering trade tensions.

The S&P500 broke the EMA8 line (Orange) and is touching the 50 day moving average (dark blue). FrontRunner is happily moving positively.

Bank of America broke the trend and 200 day moving average (pink) lines. The bounce had to come as we were in oversold territory. You can see this from the dark green heat maps. Notice where FrontRunner broke up and the MACD started making green bars.

I have been showing shares from the Medical Sector the past few days as they are recovering from the "Free Medicare for All". Anthem Inc is the latest one to break all resistances and even has a green Trend Factor again.

JSE Technicsal:
The JSE was still correcting yesterday. The Satrix40 is similarly to the S&P500 in oversold territory with unconfirmed divergence in place. Everything in place for a bounce too!

Some shares did start to bounce. Bid Corporation bounced on support in oversold territory to close on the negative trend line. Notice that FrontRunner broke up.

Follow the indicators with one eye on the Trade-War!

Enjoy your day.
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