dawievdwest

dawievdwest

For a third time now it seems as if #Sasol has had no success in overcoming the neckline of a massive Head and Shoulders pattern, which can then lead to the conclusion that a price of below R70 could be on the cards if this pattern plays out. A possible formation of a bearish flag pattern also brings no further solace.

dawievdwest

On the line chart of #ALSI's TOP40 (J200) with 40 and 200 MA's, we see the yellow line that might have developed into a formidable resistance now, or the proverbial brick wall. With three closings right on the line and another two just below, the index is now almost bumping right into it again. Time to break out above now, or will it once again prove too strong?

dawievdwest

While until a few days ago my lines on $JSEAGL (Anglo American PLC) looked more like a wedge, it is now taking the shape of a flag. As it seems the awaited Wave 3 down for all markets is now busy starting, this counter could be in for a horrible time when looking at the long flag pole on the left upper side of the flag. I do have another published target of closer to R400.

dawievdwest

$DJI daily chart now in reverse divergences with several technical indicators, because the indicators now have values much higher than at the all time high of the index in the beginning of 2022. This means that a reversal can now be expected some time in the future. The only way the reverse divergences can disappear is for the index to make a higher high, but in...

dawievdwest

Nasdaq 100 with the Head & Shoulders pattern, as seen on the S&P 500 #SPX also, but this one is sitting on a very ugly sloping neckline. This will of course only be the start to a long term bear market but what a disastrous start it could turn out to be!

dawievdwest

The JSE TOP40 certainly is still channel bound but with (currently) a first small appearance of a red histogram on the MACD, as well as clear divergences with several technical indicators, will it be able to hold its course? I have serious doubts with many others things also calling for a change of direction, especially TheDawieSetup.

dawievdwest

The Dow Jones Industrial Average seems to be forming a smallish wedge to end wave 5 (blue on the chart) but also several other waves 5 of larger degrees of trend. Wave b (up) of wave d (down) looks to have now completed with wave c (down) of wave d down to follow to reach the lower line of the rising wedge. Then wave e up should complete wave 5 up, resulting in...

dawievdwest

It seems as if #ES_F $SPX, on this 120 minute chart, finds itself at the end of a rising wedge (completed with textbook overthrow), as well as a divergence with the MACD as indicated, and with several other indicators as well.

dawievdwest

$JSEPPC had more of its fair share of attention in the media during the past week, in my view, and I am not all too sure if it was for the right reasons. As I see things, the two main points were the actions of the Public Investment Corporation (PIC), who sold a great part of its holding in PIC below 50c per share not so long ago, and is now buying at well over...

dawievdwest

It seems as if the Futures for the S&P 500 on the 240 min chart has completed a Head & Shoulders pattern with testing the neckline twice already. The projected target down is around 4140, and bearing in mind the monthly #SPX chart where technical indicators are hugely overbought (e.g. MACD, but just turned south), all these together in my view point to the start...

dawievdwest

After an almost 10% drop in just over a month in this index, I see some people already looking for entry points to go long again, as in long term. There are several technical aspects of great concern to me, pointing to something completely different. Here is a few. • The red lines indicate that the price has now been in a bearish divergence with several indicators...

dawievdwest

Time for a relook at the Monthly chart of Coronation Fund Managers Ltd, after I identified what looks like a falling wedge about two months ago. A guru in the financial world described $JSECML as a good proxy for SA Inc some time ago, but while the SA TOP 40 for example has not made much headway over the past 5 - 6 years, this counter has undeniably been in...

dawievdwest

According to the MACD on the Daily chart here Naspers ($JSENPN) looks set for a little run, however the yellow line overhead is not that far away, currently sitting at around R2815. With world markets on the verge of topping out, this is the best I am expecting at this time, if it even manages to get there.

dawievdwest

A rise from 112c to 417c in less than a year (+270%) is no mean fate, right? There was a corresponding big boom for SA recourses so isn't it always said that the incoming tide lifts all the boats? All is still good and well for those who bought in October '20 but will the profits hold, and is there a chance for some improvement at the current price? • The purple...

dawievdwest

The monthly chart certainly points to a longer term outlook, but in my view, a serious look at the bigger picture now is absolutely vital. The JSE TOP 40 (#ALSI) has roughly doubled in value over the past 12 - 15 months or so and will, as I see it, now face an uphill battle to continue in that way. Apart from the fact that it seems that the price chart sits on...

dawievdwest

The broadening top formation, or megaphone, is in my experience one of the most trustworthy patterns. Elsewhere I have already published other ideas and a target of what lies ahead for the S&P 500 according to my ideas. I am really curious to see how the index is going to work itself out of this one without incurring too much damage.

dawievdwest

It seems as if the index has avoided the bottom of the channel on the 240 min chart one more time, but with an ever growing divergence with the RSI, I suspect that cannot continue too long. Top of the channel now above 56000.