At last for Australia!... For those that did not believe in flags.

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Derek  13 Oct 2017


There were profittaking in all the indices in the US yesterday. This morning the East is all positive with the Nikkei leading the pack.

I must show Australia! It finally broke top resistance with a gap. I think this is the end of this long sideways movement.

I did show Bank of America previously in the overbought area. It has now fallen back below the break line. Notice how divergence showed the top.

JSE Technical:
And for those of you that did not believe my flag formations? After showing Aspen a few times forming its flag, it smashed resistance with the second best rise (+4%)on the JSE. Next resistance R341. Flags are one of the most profitable formations you can get!

After a nice run, Remgro closed against resistance in overbought territory. Notice all the indicators.

Enjoy your weekend.
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