FED rate cuts in Question .... FED Testimony Makes Asia stocks drop

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Derek  8 Jul 2019

Good Morning,

Stocks ended slightly lower in the U.S. after strong jobs report puts FED rate cut s in question. Asia stocks drop this morning as focus turns to FED testimony.

The S&P500 was negative most of the day, even threatened the EMA8 line, but in the end it did lift its head.

Berkshire Hathaway is also hesitating with a doji in overbought territory.

Home Depot is also hesitating at resistance with divergence in place.

JSE Technical:
The JSE remains in a correction phase as can be seen on the graph of the SATRIX 40.

Not even the weaker Rand could support the Rand Hedges and they followed the rest of the market. Kumba Iron Ore even broke the support lines with a gap.

Enjoy your day
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