US still edged higher .... Strong supports

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Derek  13 Jun 2018

Morning,

International:
The US still edged higher. Announcement of futher interest rate increases is expected today.
Nikkei rises, while other Asian markets edge lower this morning.

I must show the S&P500 again. 2 Doji's in a row in overbought territy .... meaning uncertainty at this level. Remember that a doji is only confirmed by the next days move. If still positive, doji gets ignored.



The Nasdaq is making a new high though. All technology shares are just smashing top resistances. I show Akamai Technologies. It only hesitated 4 days on the resistance line it broke before continuing into blue sky territory. I love blue sky territory .... why .... NO RESISTANCE AHEAD.



JSE Technical:
Back to the problem child.

Barloworld came back to support and touched the support line 7 times in 9 days. The MACD is breaking up, FrontRunner gives divergence .... everything in place .... but no lift off?



Pick n Pay touched support 9 times in 3 weeks. FrontRunner broke down again after all this hesitation. I show my FrontRunner break line .... it needs to be broken for positive move .... support must also hold.



You must have a great day.
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