From Unconfirmed Divergence to Confirmed

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Derek  5 Jun 2019

Good Morning,

While Trump is just thinking out new tariffs to impose, China is ramping up its own chip industry!

I have been showing the unconfirmed divergence of the S&P500 for the past few days. Today I can show the confirmed divergence and the S&P500 broke the EMA8 line.

After the two small body candles, Bank of America just took off and broke trend and EMA8 lines.

A similar chart for Berkshire Hathaway and many other stocks. Divergence is also confirmed here.

JSE Technical:
The poor growth figures made the Rand weaken again and in turn the Rand Hedges benefitted.

Anglo American made a tripple bottom on support.

Anglo American Platinum broke its 50 day moving average.

The market behave like a piece of elastic, if you pull it out too far, it shoots back and no tweets can hold it back!

Enjoy your day.
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