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South Africa 40 Index

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Analyst Thoughts: Pre-Market Europe/Mid-Session Asia - 13 July * Poor reaction to US inflation data but markets managing to stabilize with some buying into the US close to pare the losses. * USD retracing slightly which also relieved pressure on equities * Volatility higher on the day. Small caps shedding the most. *JSE: Markets continuing to retreat from swing highs seen last Friday although there was some buying off yesterday's lows. *NPN/PRX continue to being sold from their overbought positions as Tencent trends lows. As a result, some SA Inc plays managing to hold up on a relative basis. * Gold attempting to recover off the lows as DXY was sold following the inflation print. DXY higher again this morning.
JSE:J200
by techpers
Analyst Thoughts: Pre-Market Europe/Mid-Session Asia - 12 July Published on the client platform earlier this morning Analyst Thoughts: Pre-Market Europe Mid Session Asia Following a much weaker open, S. African equities managed to narrow some of it's losses at the beginning of the week but not by enough to completely shed the negative sentiment which has been cast over global risk assets at the beginning of the week. What's weighing? Inflation concerns + central bank interest rate path + global growth + geopolitical relations (see Russia, Germany energy issues) + global social unrest (see Sri Lanka & China) + Chinese Covid-19 cases. Later today, U.S earnings season commences with large cap banks being the first to update the market on their Q2 performance. US equities closing lower overnight with the aforementioned issues weighing. Musk/Twitter deal also weighing on sentiment while investors position for the earnings where the focus will be on the forward guidance. This morning, Asia is negative. US Futures negative. USDZAR +17.13
JSE:J200
by techpers
JSE Top 40In my 07 March report I highlighted the technical risk with the index having traded at the upper boundary (2.5 to 3x the mean) of it’s 200-month linear regression channel. We have since seen the index retrace toward it’s mean with the price lower by 16.6% from the March peak. The 7-month RSI prints 38 which is considered weak but not yet oversold. While we may see rebounds on a short term basis, the regime remains ‘weak’. Considering the quarterly time frame, it remains in a strong but near overbought regime.
JSE:J200
by techpers
JSE ALSI 40 - Short - Inverse Cup and Handle Technically an Inverse Cup and Handle has presented itself. The breakout below the brim level is still quite a weak breakout, but the stop loss is quite wide to give leeway. Fundamentally, Inflationary measures and rising interest rates are going to have a ripple effect around the world. The JSE will also following leading markets, which will bring it down. I'm going short... What do you think? Kind regards, Timon Rossolimos CEO, MATI Trader
JSE:J200Short
by timonrosso87
JSE Top 40 IndexAt the top of last week I highlighted the theme, which was 'be selective', mentioning that traders should take caution following the strong move over the prior two week. The channel resistance and 61.8% FIB retracement was highlighted as resistance zones and we have since seen the index unwind from a 'near overbought' rating to a neutral rating. The next level of potential support is around the prior breakout zone or just above that at the rising 21-day EMA however we could also overshoot these zone to the downside. We are seeing the index coming under pressure in line with other global markets as bond yields rise, specifically in the U.S where the US10Y is above the psychological 3% level. For now, the theme remains 'be selective'.
JSE:J200
by techpers