High Volatility at current levels .... When unsure ....

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Derek  8 Aug 2019

Good Morning,

Lots of volatility at current Market levels as the Bulls and Bears are fighting for control. Asian markets rise, unfazed by yuan's latest weakening.

In the end the S&P500 hardly had any movement. It has not even started leg b of the abc correction as explained yesterday?

The DAX made a long leg doji on the 200 day moving average. Notice how this line acted as resistance and support in the past.

The bounce of NIKE happened on strong support. Notice that this graph is about identical to the S&P500. FrontRunner warns that the low has not been reached?

The 200 day moving average is also acting as support for Amazon.

JSE Technical:
Gold shares are still flying high on the JSE. AngloGold Ashanti did so with a 3rd gap. Is this an exhaustion gap?

The Satrix40 is hesitating at the 200 day moving average. Like the S&P500, FrontRunner is also warning here that the low has not been reached?

When unsure, it is best to wait for a second bottom that is higher than the previous one! OR divergence for the firts bottom.

You must have a great long weekend.
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