US-China trade truce .... Brexit hopes

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Derek  14 Oct 2019

Good Morning,

News in brief:
Brexit hopes supported the pound and made UK Banks soar.
US – China trade truce boost US markets.
Asian markets rise on relief over partial US-China trade deal.

International:
The S&P500 gapped up, but closed closer to the bottom of the day than the high. Are investors not trusting the truce?



Our no. 1 Trend share, Advance Micro Devices, was amongst the strong gainers of the day. Notice that the long term negative trend line was broken.



Caterpillar gapped up from oversold territory.




JSE Technical:
Investec was also sold off because of Brexit and it made a massive gain of +7.8% from oversold territory. Notice how FrontRunner turned up the previous day.



The Satrix40 finally broke the negative trend line together with a 200 day moving average break. Notice where FrontRunner broke up in oversold territory together with green MACD bars .... not to ignore!



Quilter Plc did even better than Investec. Notice the signals I just mentioned.



Enjoy your day.
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