abc Correction due to Trade-War .... FrontRunner prediction

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Derek  24 May 2019

Good Morning,

International:
Stocks in the U.S. closed lower as investors brace themselves for a protracted U.S.-China standoff. Asian markets are also mixed amid lingering trade-war worries. Some say that the Trade-War saga can continue till the next election in 2020?

Technically the S&P500 is busy with the classic abc correction, caused by fear of the Trade-War outcome. I marked the abc formation on the chart. We still do not know where the bottom of the c will be? Will the current support hold?



FrontRunner predicted a lower low for Bank of America, and it made it yesterday. Now we have unconfirmed divergence in place and the next turn, if divergence is confirmed, is usually the bottom.



There are still the odd shares reporting results. Copart is one, and it smashed top resistance with a breakaway gap.



JSE Technical:
Similarly to the S&P500, the Satrix40 also had a FrontRunner prediction that a lower low was still to come. It is also busy with the lower low with unconfirmed divergence.



FrontRunner Prediction:
When FrontRunner dips below the 3 green oversold lines, it predicts that the final low has not been reached. When divergence is in place when the low occurs, that is then the true bottom. BUT, the turn must be confirmed with something, usually a candle formation. I will show it in these market reviews when it occurs.

Brace yourself for some more weekend tweets?

You must have a great weekend.
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