Trump at it Again! .... China $300 billion threat

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Derek  2 Aug 2019

Good Morning,

Trump threatened China with an additional $300 billion new tariffs via a tweet. That caused all financial markets to tumble and Asian markets are following.

The S&P500 was bouncing back, even went above the EMA8 line, until Trump's tweet came!

The Hang Seng made a gap to the bottom.

Bank of America could not break top resistance and together with the tweet, it only knows one path now.

Home Depot made a double top against resistance with divergence. Notice that the EMA8 and long term trend lines are broken.

JSE Technical:
The JSE is still continuing its correction. The only highlight was Naspers, but with Asian markets tumbling .... ?

The Financial Sector has now reached important support levels. Notice the gap .... exhaustion gap? We are also in oversold territory according to the HeatMaps.

Standard Bank made a long leg doji on support in oversold territory.

Apparently, there's nothing like a presidential tweet to reveal the biggest fear that cuts across all financial markets.

You must have a great weekend.
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