DOW passes 27 000 milestone .... Highlight on JSE

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Derek  12 Jul 2019

Good Morning,

Although Boeing had a big influence on the DOW, it still managed to pass the 27 000 milestone to make a new all time high.

Lets look at the main drivers of the DOW. Microsoft is no 2 trend share and also making a new high. Look at the 50 day moving average (dark blue line) to see the trend.

You see exactly the same trend since January for Visa.

If you are unsure about the many shares in the U.S., you only need to watch the 30 shares listed on the DOW!

JSE Technichal:
The JSE is still doing volatility moves on support without moving in a positive trend.

The SATRIX40 broke the EMA8 and trend lines during early trading only to retreat and close way below them again.

Woolies had big problems in Australia, and had since February 2016 a red trend factor. From a high of R108 it dropped to a low of R43. For the first time in a long period it announced good results that took the price up +7.86% to close at R52.95. It looks like we will see better days for this share in the future. Notice how the dark red trend factor already turned to ligh red. It is very close to turning positively. I zoomed out a bit to show the down trend. Also notice that FrontRunner is warning that a much higher high is still to come.

You must have a great weekend.

PS Naspers is still building on its flag without a break.
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