Shares influencing DOW negatively .... JSE remains Problem Child

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Derek  25 Jul 2019

Good Morning,

Markets in the East are awaiting European Central Bank decision on cutting rates?

The S&P500 and NASDAQ are still edging higher while the DOW are pulled down by Caterpillar, Boeing and Johnson Johnson. Lets show the NASDAQ that smashed top resistance.

It was the technology shares that moved the best with Keysight Technologies one of the strong movers. This share is no 5 on our strong trend share list. AMD, our no 1 trend share, did well too, but you must be bored by now of me showing this share.

I already mentioned that the Caterpillar is one of the shares pulling the DOW down because of results not meeting expectations. With a handful of shares influencing the DOW, it is best to look at the S&P500 where their influence is negligable.

JSE Technical:
The JSE remains a problem child. Because of poor economic data, foreigners sold shares on the JSE in mass. Why should they invest in a poor economy that is only .6% of world markets?

You can see the selloff on the chart of the Satrix40 that closed below the EMA8 line and just above the 50 day moving average

Woolworths Holdings was one of the few shares that escaped the selloff. Notice that we have a positive trend factor again for this share!

It is important to have a diversified portfolio with plenty of foreign exposure to balance risk. It is for that reason that we use Algomodel TradeFX to look at the U.S. Markets.

Enjoy your day.
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