BBB Ep 37 - Market holding above 200 day MA (just); Fed Minutes; Bad Chinese news for Naspers on Tencent, Food Delivery; Sibanye smacked despite Rand ..

Stock market technical analysts are fixated with the 200-day Moving Average which they say provides either support (in a Bull Market) or resistance (Bear) for share prices going forward. After the major US indices broke above this critical tend last week, declines in the past two days have brought the Nasdaq perilously close to dropping below the trend line again. Minutes from the latest Fed meeting helped share prices stage a recovery late in the US afternoon, but it ran out of steam towards the close. In SA-related news, Naspers got a double hit after its associate TenCent reported a first ever drop in revenues and China's biggest food delivery company went into bankruptcy (Naspers has bet big in that sector). On the JSE, punished Sibanye after a trading update in which it showed operational issues more than offset the support from a weaker Rand.Bain & Co – still trying to gloss over the shocking factsDA won’t support Ramaphosa MONC…for now – absent from joint opposition presserMeet the SARS chief: Revenue service on the road to recovery Learn more about your ad choices. Visit megaphone.fm/adchoices