Trade Tensions Resurface .... Opposing Markets

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Derek  17 Jul 2019

Good morning,

If the volatility of earning season was not enough, Trump had to add his trade tension worries again by saying that the trade negotiations has still 'a long way to go'!
All this uncertanties, and the fact that we are in overbought territory made investors take profit.

The S&P500 is still above the EMA8 line. You can see on the HeatMaps the overbought situation.

You can see the profit taking in overbought territory on the chart of Mastercard.

You can see how Linde PLC is hesitating at resistance too.

JSE Technichal:
I have been showing for quite few days now that the JSE was in oversold territory. And then it got ignited yesterday to break up.

Sanlam bounced on support and broke resistance.

Similarly for RMB Holdings. I marked the FrontRunner break on both charts.

I say again .... I do not like opposing markets?

Enjoy your day.
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