World Markets Positive .... Weaker Rand influence on JSE

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Derek  1 Oct 2019

Good Morning,

The positive sentiment on world markets started in Europe and the middle East. The US continued and the East is also following this morning. This is happening despite trade-war news, only because Markets were completely oversold.

The S&P500, although positive, still closed below the EMA8 and my trend lines. Hopefully it can break it today.

The Hang Seng broke my tight trend line and is just below the EMA8 line. Notice the oversold HeatMaps.

Apple broke the flag it was busy forming the past 3 weeks.

The 50 day moving average (dark blue) acted as support for Chipotle Mexican Grill.

My old favourites are still hesitating, that is why I did not show them today .... lets hope I can tomorrow?

JSE Technical:
The weaker Rand is driving the Financial Sector lower on the JSE.

In contrast the weaker Rand helped Anglo American to break a short term trend line.

Enjoy your day.
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