Never Trust Trump! .... Ignore the noises and stay with Technical

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Derek  11 Jun 2019

Good Morning,

International:
You can never trust Trump. Just when you think that his tariff increases has settled, he comes up with fresh ones.
Asian markets gain despite fresh tariff threats from Trump.

You can see how the S&P500 made a long leg doji with the latest development. The doji is not confirmed yet. The next move will determine if the current positive run is over.



The ASX is not bothered by the noises from Trump and is busy breaking top resistance this morning.



Analog Devices broke first resistance with a gap move. Notice how the 200 day moving average (pink line) acted as support at the turn.



You might recall when I showed WYNN Resorts when it made a gap with excellent results? It then moved up strongly until all the Trade-War talks started again. That took it down all the way into a red trend factor again. It was so oversold that the current threats did not stop a trend and EMA8 line break.



JSE Technical:
The Rand strengthened again to put brakes on the Rand Hedges and favour Financials again.

FirstRand only made a J-curve with the volatile Rand and is still busy with its positive move. Most of the graphs of the Financial Sector look exactly like this.



You can see the brakes applied on the graph of BHP Group. A small body candle with a long leg to the top. This candle is very close to a doji.



The only advice I can give is to ignore the noises and stay with the technical indicators. That will determine how all the noises are interpretated.

I will be going on leave for 12 days and my last market review will be on Thursday. Market Reviews will commense on 24 June again.

Enjoy your day.
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