AMAZON & INTEL’s Results .... RAND against $

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Derek  29 Jul 2019

Good Morning,

The S&P500 managed to make a new high on Friday as earning results are still dominating the market.
This morning Asian markets drop ahead of FED meeting and trade talks.

Although INTEL had good results, the price corrected as analyst believe that they still has a way to go to compete against AMD. You might recall from previous market reviews that AMD is our no. 1 trend share!

The results of AMAZON did not favour investors and it made a breakaway gap downwards.

JSE Technical:
Fitch downgraded the outlook of South Africa’s credit rating from stable to negative and that hammered the RAND. I think it is only a matter of time before Moody's will downgrade too.

The Rand is now weakening fast against the major currencies.

This in turn is pulling the Financial Sector further down. Notice that we now have a red trend factor.

Only a handful of Rand Hedge shares responded to the weaker Rand. Richemont was one of them.

Enjoy your day.
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