SteynTrade

JSE:J200 Effort Without Response

Short
JSE:J200   TOP 40 INDEX
The Top40 has been on the rise since the covid lows, however, we can now see some cracks and we could be in for a correction back to 53000 for the rest of the year. My reasoning is as follows:
- The buying climax ( BC ) of the latest trading range could not make it back to the overbought line showing a lack of interest.
- Divergence on the RSI leading into the BC shows the interest to push higher is gone.
- The effort (increase in volume ) with each attempt to push higher could not make higher highs.

Based on this it looks like that a break of the trendline could open the path for a drop back to 53000

Comments

Anyone have an idea why the J203 and some other symbols are now "invalid" but this morning when the market opened it was still fine?
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jeremydi Driesman743
@Driesman743, I noticed the same thing for small-to- medium JSE indices and also sector indices.
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Driesman743 jeremydi
@jeremydi, I also see now but I hope it will be back soon, I wonder why it's gone now?
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SteynTrade Driesman743
@Driesman743, @jeremydi, Also wondering what going on. You can ask TV by going to the dropdown menu at the top right corner when you are in charts view. Look for the support centre - click my tickets and open a new ticket and ask. As many people should ask as possible then they should prioritise this.
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Great analysis. Agree .
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SteynTrade Thinus5422
@Thinus5422, Thanks
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