Powell doesn't see a recession .... Sasol postponed results again

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Derek  9 Sep 2019

Good Morning,
News in Brief:
Gold's big drop is just the beginning of a bigger slide.
Powell doesn't see a recession.
Strong week for U.S. markets despite tepid jobs report.
The weaker-than-expected August job report makes it all-but-certain the Federal Reserve will cut its benchmark interest rate by a quarter-point at their meeting in two weeks.

The S&P500 hesitated at current level with a doji.

The Jacobs Engineering Group is not bothered with all the uncertainties and is still moving strong. It is however moving into overbought territory.

McDonalds is also hesitating with a doji against strong resistance.

JSE Technical:
The stronger Rand is still helping the Financial Sector to move positively as seen on the STXFIN chart.

Sasol again postponed their results, and as you should know by now, markets do not like uncertainties. With the announcement the price dropped -4.05%. Notice the long negative trend line and trend factor!

Enjoy your day.
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