Modest gains in the East .... JSE uncertain about direction

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Derek  20 Sep 2019

Good Morning,

Stocks lose steam to end near unchanged as S&P500 nears record territory. The East is doing modest gains.

Microsoft made a gap to reach its resistance. We will only know later whether this is an exhaustion gap or a breakaway gap?

Xerox Corp is forming a beautiful flag. Notice how the 50 day moving average (dark blue) is acting as resistance to form the top of the flag.

JSE Technical:
The Satrix 40 made a Rickshaw candle with a long upper shadow, small body and long leg to show uncertainty about direction.

I showed how the volume declined for Prosus as sellers dried up after the listing. Then investors saw value and huge volume acted for a positive move yesterday.

You must have a great weekend .... and remember the Rugby World Cup starts today!
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