Reporting Season Again .... Results will determine next move

    All Channels      Market Reviews  

Derek  16 Jul 2019

Good Morning,

It is unbelievable how quickly the time goes by. It is reporting season in the U.S. again and markets are hesitant ahead of earnings reports.

The NASDAQ was the best gainer of the U.S. Markets. Notice that the NASDAQ is slowly moving into overbought territory! If the results do not support the move, the stocks will get hammered again.

You can guess by now what share moved the best? Our strongest trend factor share Advance Micro Devices of course! It broke resistance with a +3.55% gain. Maybe it is an indication of what results to expect?

Similarly Home Depot is making new highs and the trend is not threatened.

JSE Technical:
The JSE remain hesitant at current levels. The platinum price rose and lifted the heads of the platinum shares slightly. Impala Platinum managed to close above the EMA8 line again after dipping below it the previous day.

Anglo American did follow through from the oversold territory to close on the EMA8 line.

The results published for shares will determine the next move on Markets.

Enjoy your day.
Download TradeFX™

Copyright © 2017 {Zoclee}™. All rights reserved.