Weak ADP jobs report boosted U.S. .... Tip for Watchlist

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Derek  4 Jul 2019

Good Morning,

International:
A weak ADP jobs report boosted the U.S. market.

The S&P500 now closed 4 days above my old resistance line, so this line becomes support. (changed colour to green)



The FTSE 100 Index is moving similarly to the S&P500. The only diffirence is that it has not reached its all time high yet.



Ball Corporation had the biggest move in the top trend shares this week. I show the table to highlight how many shares are making new highs among the top trend shares. Not one made a negative move for the week. STAY with the strong trend shares!!!!



After Colgate-Palmolive could not break top resistance, it corrected to the 50 day moving average that acted as support. It then bounced up again and is making another attempt to break resistance. Notice that my long term trend line is about on the 50 day moving average. I cannot recall seeing a trend and 50 day moving average so close together for such a long period.



JSE Technichal:
Anglo American could not break top resistance and bounced down with divergence. The strenghthening of the Rand did not help. I am expecting the Rand to start weakening again and that could help to have a short correction for Anglo American.



The Rand did not help the financials and Sanlam is still correcting. We will have to see if the 50 and 200 day moving averages will act as support? The price is close to these lines as shown.



TIP for Watchlists:
It is easy to create a Watchlist in TradeFX by clicking on Data/New Watchlist. I add all the strong trend shares, as calculated by Analyst Expert, to this watchlist. Now it is only a matter to use the short term signals for timing on the well selected portfolio. I have shown the Analyst Expert list for the S&P500 on the chart of Ball Corporation.

Enjoy your day.
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