Most profitable formation .... Where should your money be?

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Derek  12 Jun 2018

Morning,

International:
All indices positive around the world.

Both the DOW and S&P500 closed with doji's in overbought territory. I will not be surprised if we get some profit taking. I show the S&P500.



a Rare, but most profitable formation is the Cup & Saucer formation. It starts off by forming the saucer followed by a cup and handle. Because it is a rare formation, one must pay attention when it is noticed as it is usually most profitable.

I show this for Harris Corporation. Notice the saucer forming. We will keep an eye on this one if the cup follows.



Home Depot is still moving strong towards resistance, but in overbought territory. Notice how all the indicators are at top.



JSE Technical:
I suppose we must get used too it that the JSE is not a favoured investment destination in the world anymore. If you must invest in the world, will you choose a country where the investment potential is less than 1% of the world potential, has all the political uncertainties, highest unemployment and hardly any growth?

The shares lift for one day only to fall back 4 days. But lets try to stay positively.

After breaking top resistance, Mondi still keeps on moving strongly.



So does Exxaro. It even wants to start developing a green trend factor!



To proof my earlier comments. The S&P500 has more than 150 shares with a green trend factor. The JSE has 24. Where should your money be? You decide?

Enjoy your day.
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