The JSE Industrial Index went through a distribution trading range and together with the overall market started to markdown. However, relative to the Top 40 the Industrial Index is showing strength. However, it is probably not time to get too excited as this is likely to only be a pullback and test of the trading range that was broken. In the short term, this could take us back to between 6500 and 7000. This is the sector to look for some stocks that are benefiting from the current market conditions to go long for shorter-term trades.
