S&P500 clinging to current support .... Divergence Everywhere

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Derek  16 Aug 2019

Good Morning,

The U.S. indices are clinging to current support and we have conflicting trade messages from China.

Let's look what the technical indicators show for the S&P500. We have a long leg doji with unconfirmed divergence in place. Everything in place for a turn?

Similarly for the Hang Seng. Although the EMA8 line is not broken yet, my trend line is.

Wal-Mart Stores made a huge bounce. Notice the divergence that was in place before the bounce.

Berkshire Hathaway is clinging to support with divergence in place. It is even touching the EMA8 and trend lines.

JSE Technical:
Similar signs for the Financial Sector on the JSE that is in very oversold territory.

Standard Bank even broke the EMA8 and trend lines.

Ignoring all the news noise, the technical indicators show divergence everywhere for a turn.

You must have a great weekend.
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