Mixed Markets ahead of Trade Talks .... Clicks gives spark at JSE

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Derek  8 Oct 2019

Good Morning,

The upcoming US-China trade talks made US stocks wane, but Asian markets gain. Uncertainty!

I want to show the S&P500 diffirently today. The Heiken Ashi chart takes most of the daily noise out and show the market cycles more clearly.

Lets do the same for the Hang Seng. Notice the uncertain bars for the past 4 days on the Heiken Ashi chart.

Uncertainty can be seen everywhere on the US charts. Bank of America made a long leg doji at the EMA8, 50 day and 200 day moving averages to confirm the uncertainty.

Although Hess Corp started moving positively after breaking its negative trend line in oversold territory, it too stalled with a doji.

JSE Technical:
Clicks announced better than expected results and that made the price break top resistance with a breakaway gap. Notice that the trend factor turned dark green and that FrontRunner is predicting higher highs to come.

This inspired Woolworths to break its short term trend and EMA8 lines. Notice that the bounce came from oversold territory on the long term positive trend line. The past correction made the trend factor turn red again, but the bounce moved it into positive territory again.

The Heikin Ashi or weekly charts are an easy way to look at charts for the medium term investors, as the they negate the daily noise.

Enjoy your day.
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