Markets hesistant as .... Divergence shows extreme turns accurately

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Derek  10 Sep 2019

Good Morning,

Markets are hesitant as investors digest economic data ahead of the central bank meetings.

The S&P500 closed about unchanged with a red candle. Do notice that we are in overbought territoty, causing profit taking.

The Nikkei is also busy making a doji this morning in very overbought territory.

Shares were very mixed with some star performers and others showing profit taking. Bank of America was one of the star performers that smashed the 50 and 200 day moving averages.

The almost forgotten share, Xerox Corp, started lifting its head again and has also moved back into a positive trend factor. Notice how divergence showed the turn.

JSE Technical:
Gold shares continued their slide and I just wanted to show the divergence at the top when Gold Fields started its slide.

The SATRIX40 does not know whether it is coming or going and formed a small body candle with extreme long legs. Notice that the index is in overbought territory.

Enjoy your day.
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