South African Markets

Market related content, such as the JSE Top 40, and other emerging trends.

JSE TOP 40 Index- The long term Outlook – 01 Oct 2024

A fair amount of detail outlining the general bull trend as an upward sloping wedge increases the risk of being wrong.

Recent medium term price action unfortunately points to this alternative as the preferred outcome.

It is not in line with the prevailing sentiment and our personal fundamental stance.

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JSE TOP 40 Index Update – 25 Sep 2024

The recent gains have been everything but a classic trending bull market.

Overlapping and volatile gains can be defined by a price channel.

Whilst this type of price action is common in corrections and consolidations, it is quite rare during general upside and making new highs.

The most plausible alternative/explanation for his is that a large and long term upward sloping wedge is forming.

The illustrated scenarios are self- explanatory.

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USD/ZAR Report – 23 Sep 2024

The market is currently testing our long held bearish target levels. A bottom has, however not been formed or confirmed yet.

In this report we discuss feasible short term alternative outcomes that could materialize,

given current extended market conditions, importance of cluster support, as well as the prevailing bullish sentiment and conviction.

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JSE TOP 40 Index Note – 16 Sep 2024

Global equity rhetoric and sentiment has recently become quite positive , due to several fundamental factors.

The technical scenario is in line with any immediate bullish bias, but the longer-term outlook remains more circumspect and even negative.

Our mandate is to give an objective technical perspective on analysed markets, independent of any other forecasting techniques.

Re- assessment and negation levels fortunately qualify the technical view and is, as always, important.

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JSE TOP 40 Note – 09 Sep 2024

The medium-term bearish outcome defies belief but is unfortunately the best objective technical outcome.

The bear trend is currently still unconfirmed and as such just a good idea, until pivotal support has been broken.

Pivotal and negation levels remain important for successful navigation of the market.

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USD/ZAR Weekly – 09 Sep 2024

The expected consolidation phase in the USD/ZAR pair is open to some interpretation.

While the shorter- term outcome is similar in nature between the two feasible alternatives, the long- term consequences and trend implications are different.

As always, developing price action will give us early insight into outcome probabilities.

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