Some breaks on the JSE .... Case Study .... TradeFX upgrade

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Derek  28 May 2018

Morning,

International:
The US had mixed indices on Friday, similar for the East this morning, with the HangSeng positive and the others stil correcting.

With the correction of the S&P500 it has now moved into neutral area, still in the centre of my flag. Not oversold, nor overbought, but the Heatmaps are in neutral area.



NVIDIA Corporation has broken its flag, but top resistance are very close.


JSE Technical:
The Banks seem to have reached support, but no major breaks yet. FrontRunner did break its trend line for RMB Holdings.



Similar situation for Spar with an Engulfing Bull candle.



Case Study DCP:
And then Dis-Chem made a vicious turn. The only warning for the turn was that divergence was in place and that the close of the previous day was not close to the low as the previous days. Trend line broken, but not EMA8 yet. The reason why we get such a strong move for the day is that many speculant traders went short. When the turn came, they have to buy back to close their short positions, but with no sellers around anymore, thus the strong move. Also notice the first green bar of the MACD.



New Features in TradeFX:
See the previous notification post for a more detailed explanation of the changes.
To access the new features you need to download the latest version of the program.

1 You can toggle between an arrow and cross bars cursor.
2 Comment on icons are shown
3 Old delisted shares can be removed from current lists
4 Signals can be hidden on charts by chosing the NONE option.
5 All trendlines on a chart can be removed with one command.

Thanks Alwyn for the hard work.

You must have a great day.
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