Recession Fears weigh on Wall Street .... Another casualty on JSE

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Derek  21 Aug 2019

Good Morning,

Recession fears weigh on Wall Street. Asian markets also pull back on these fears.

The latest fears stalled the positive move of the S&P500, but it did manage to close above the EMA8 line.

Berkshire Hathaway retreated back to its consolidation area and below the EMA8 line.

See how hesitant Apple is with two doji's next to each other. The trend however remains positive.

JSE Technical:
The JSE is just as hesitant. Exxaro made 3 doji's next to each other in oversold territory. Although the trend line is broken, it is still hesitant below the EMA8 line.

The poor economy is claiming more and more casualties on the JSE. Shoprite announced poor results and the price got hammered. Notice that the trend factor has been red for a very long period.

Enjoy your day.
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