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.

International:
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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