News in Brief .... Prosus still seeking support?

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Derek  19 Sep 2019

Good Morning,

News in Brief:
Trump blasts Jerome Powell after FED rate cut: 'No "guts", no sense, no vision!'
FED casts doubt on future stimilus.
We are in an earnings recession and it is expected to get worse.
FedEx stock plunges as outlook prompts four analyst downgrades.

After dipping in early trading below the EMA8 line, the S&P500 managed to close about unchanged above it again.

Maybe it is the Rugby World Cup fever that is driving the NIKKEI towards the next resistance?

Lets have a look at FedEx. The trend factor showed that you had to stay away. If you ignored that, the FrontRunner broke down 4 days earlier. Now we have a breakaway gap downwards with a -12.92% plunge.

Jacobs Engineering is hesitating with a doji at resistance. Notice the divergence!

JSE Technical:
After FrontRunner broke down, the Satrix40 continued with its correction.

Since its listing, PROSUS is still trying to find a support level. Notice how the volume declined the past 3 days.

Markets do not look healthy at all .... Exercise Extreme Caution!

Enjoy your day.
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