Fresh hopes of rate cut by FED .... Good results by AMS

    All Channels      Market Reviews  

Derek  19 Jul 2019

Good Morning,

Fresh hopes of rate cuts by the FED lifted the heads of shares again. The East is also positive on these hopes.

After dipping 1 day below the EMA8 line, the S&P500 managed to climb back to close above it again.

The Hang Seng closed up and down around the EMA8 line for the past 9 days. This morning it had a strong break to the top.

I did warn you about Netflix in an earlier review .... exact what was predicted happened. The market did not like their results at all. After the double top it started the correction and then the drop of -10.27% created with a huge breakaway gap.

On the other side of the coin Philip Morris had a breakaway gap to the top.
Notice that this took it back to a positive trend factor.

JSE Technical:
Although the interest rate was reduced by .25%, the JSE is still waiting for the world markets to follow.

American Platinum nearly doubled their profit for the same period this year and with this result, it broke its flag that was busy forming.

British American Tobacco came from a high of R947 since 2017. It bounced up yesterday with a +5.94% gain to close above the 50 and 200 day moving averages. Notice that the trend factor is still very negative.

As can be seen by the graphs of this morning, result season causes a lot of volatility.

You must have a great weekend.
Download TradeFX™

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