Starting 2021 we find that the recovery from the Covid lows is still in progress. After a pullback and low formed in October 2020 we are seeing another push higher. Resources are again showing the most strength with a nearly 40% rise. However, financials are also recovering well at this stage but industrials are lagging. Over the holiday period, we have seen a...
The financial index on the JSE has remained at the low levels after the drop. After the selling climax (SC) and automatic rally (AR) which demarcates Phase A of the Wyckoff trading range, we have seen the typical low volume trading in Phase B play out. Phase B typically takes some time to develop and we may have to wait sometime into next year to see significant...
Using the Satrix Fini as a proxy for the financial index we notice that we are at an important decision point. There has been a declining interest in buying the index. Buying volume in 2016, 2017 and 2018 has failed to push the index to new highs and in 2019 volume has been low. Price has reached the long term oversold trend line and a break lower could open...
JSE:J212 Lost some 13% in the value over last 15 trading days. Clear down trend but it moved from mean. Look for some pull back before you think about taking short.
JSE:J212 Head and shoulders in place on hourly chart. More downside to come.
JSE:J212 Two days ago tried to break above strong resistance. Didn't make and today making big engulfing bar. This should go "From false move comes fast move"
Since 2016 the JSE has been declining relative to the S&P 500 but December has shown a change in character with the JSE consolidating while the S&P 500 declined. The Resources sector has been leading the charge and trading in a strong upward channel. In December the resource has reacted to the demand line and is showing strength going into 2019. Resources are...