Diminished hopes on Trade-War deal .... Court ruling on Moyo

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Derek  31 Jul 2019

Good Morning,

Asian markets fall this morning on diminished hopes of U.S.-China trade deal .... Why am I not surprised? I said before that the last 10% of negotiations is all that is important.

The Hang Seng broke support and the 50 day moving average. It was already a few days below the EMA8 line.

The S&P500 managed to close just above the EMA8 line. The high is however lower than the previous high and similarly for the low,

After hesitating at resistance, Bank of America made another attempt to break resistance. The end result is that it closed on resistance!

One must never ignore a breakaway gap. Amazon is now well on its way with a correction after its results and breakaway gap.

Another breakaway gap for Pfizer send it straight into a red trend factor.

Result season is claiming its toll!

JSE Technichal:
After the court ruled that Moyo must be reinstated at Old Mutual .... the price knew only one way .... and that is down. Luckily if you have been investing in shares that only has a positive trend factor, you should not own this share.

Look at the volatility of the SATRIX40. The overall trend remains down.

This is not the time to be brave .... sometimes it is better to wait!

Enjoy your day.
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