Trump takes credit for stalling Trade-War trade talks

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Derek  12 Jun 2019

Good Morning,

Trump at it again! This time he took credit for holding up U.S.-China trade talks. He is imposing his terms and holding China at ransom?

That stalled all markets and the U.S. indices gave up all early gains. The East is also stalling this morning.

You can see how the S&P500 gave up early gains to close just below the previous close. We are in overbought territory and my trend line is broken.

Apple still gained to close with a doji in overbought territory.

Some shares that reached critical levels started correcting. Jacobs Engineering Group was one of them. After reaching resistance, it immediately started correcting. We have a trend line break, FrontRunner break and a red MACD bar.

JSE Technical:
Bid Corporation is close to a very strong resistance. Those who have TradeFX can zoom out more and see that this resistance line was created by 6 previous highs. Notice that we are in overbought territory, FrontRunner broke down and my trend line is broken!

Most shares on the JSE were positive, but they did not close on the high of the day. You can see this from the long upper leg of the price of Sanlam.

Enjoy your day.
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