Taking Stock: Early February 2021

Market Mood

FOREX:USDZAR (USDZAR)

Well and truly trending down. Looking highly likely that the next stop is 14.50.

INDX:DXY (Dollar Index)

Weekly chart here. The dollar is showing a double top and trending down. Both moving averages are pointing down. Might be KO for king dollar but as always be careful forex and commodities can turn on a dime.

FOREX:EURZAR (EURZAR)

On the weekly chart. Trending up. Would only worry below 17. Similar story with FOREX:GBPZAR below 19.

CC:BTC-USD (Bitcoin)

On the daily. Still struggling to break above 40700.

COMM:CL (Crude Oil)

Daily chart, well on the way up.Broke through resistance and looking to continue.

COMM:GC (Gold)

Only below 1777 should we worry. Still holding well.If it breaks up which I think it will - be ready!

COMM:PL (Platinum)

Trending up. Cup and handle break recently. Very good.I will be looking to add.

COMM:PA (Palladium)

Losing steam. In danger of rolling over indicated by moving averages now pointing down.

INDX:DJT (Dow Jones Transport Average)

Whipsaw break below the trendline. Below 12000 is bad news. It is just giving us a warning for now.

INDX:GSPC (SP500)

Trending up.

INDX:JTOPI (JSE Top40 Index)

Well and truly in the upward trajectory.

JSE Stocks

JSE:SBK (Standard Bank)

Sorry 2 incorrect highs - from data provider. However the cup and handle has broken and as long as the rand is strong against the dollar this stock strength looks to continue.

JSE:CCO (Capital and Counties)

Golden cross incoming. We need a bot more evidence but the bottom might have just been locked in.

JSE:TKG (Telkom)

You know...yeah you know what good looks like.

JSE:STXFIN (Satrix FINI)

Dependent on USDZAR but this perpetual loser is now looking OK.

JSE:KAP (KAP)

Looking excellent. Planned to buy but never triggered my entry - sometimes you just got to override and pull the trigger on the buy.

JSE:ABG (Absa)

Same old story for many other financials...good. For now.

US Stocks

US:SHOP (Shopify)

Break to a new high. The 200MA is looking a straight line to the sky.

US:EZA (iShares South Africa ETF)

Looking from a US perspective - South Africa ETF not looking half bad.

US:RDFN (Redfin)

New high locked in.

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