The ALSI top40 Sep-18 futures contract will roll over to its dec-18 expiry tomorrow 20th sep.
Trading Idea right now is that the 49800 technical 60min support level will attract buying for the market to get option hedgers that took trades short below 5000 to buy back above 50000
by FCO closing price
I have initiated a long position at 49600 on September 17th...
Calculating a positive open on the J200 +193 points.
Tencent currently +2.03%
ZAR slightly stronger.
US & FTSE Futures pointing upwards.
Traders should look to benefit from arbitrage opportunity between the ALSI open and the Unum Capital J200 open call.
Unum Market Commentary: Equities Stable As Traders Shrug Off Trade Woes; Copper Rebounds
On Tuesday, traders appeared to ignore the threat of a trade war, instead focusing on a softer US Dollar to drive sentiment throughout the session which saw equities largely higher on the day. On the JSE, the All Share Index added 0.15% while the Top 40 managed to stay in...
J200/Top40 hourly chart.
It looks as inverted cup and handle or even head and shoulders.
Some 4500 points in pattern. So watch for break it can bring some 10% downside on J200 JSE:J200
It was a risk-off start to the trading week for global equities as new rounds of jabs between the United States and China regarding trade saw Asian equities attract sellers early in the session, with the the major Hang Seng and Shanghai Composite Indices losing over 1% each while the Nikki bucked the trend, adding 1.19%. In Europe, markets continued with the...
Despite being down on the week, South African equity markets managed to stage a short term recovery to bounce back from it's mid-week week lows as bargain hunters sought the opportunity to accumulate. Another factor that drove the recovery was a rebound in Chinese markets following a prolonged sell-off. For the session, the All-Share Index added 0.74% while the...
On Thursday, South African equities managed to bounce back with a 0.38% gain for the All Share Index while the Top 40 Index managed to add 0.35% for the session as emerging market assets found support on the back of a weaker US Dollar driven softer inflation data which also curtailed expectations of aggressive rate increases by the US Federal Reserve. We also saw...
South African equity markets continued to trade with a downside bias, this time being held back by financial sector as stocks such as Firstrand, Standard Bank and Absa fell sharply. For the session, the All Share declined by 0.40% while the Top 40 index shed 0.45%. On the upside, winners included British American Tobacco benefited as the US Food and Drug...
On Friday, South African equity markets were stable, holding near the lows of the week and continuing to trade within a tight, two-day range. For the session, the All Share closed 0.05% higher at 57130, while the Top 40 index was in the green by 0.12%. Supporting the positive close was Naspers (+2.61%), Discovery Holdings (+2.27), Firstrand (+2.23%) and Tiger...
Johannesburg Stock Exchange (JSE) Top 40 Index has undergone re-accumulation and broken out above the trading range (Jumped the creek). Now it has backed up to the creek and gone into a lower TF re-accumulation. Waiting for signs that it will break the back up range on the daily TF. For now it seems that it is still ranging.
On Thursday a stronger South African Rand helped to lift local shares, keeping the All Share Index in the green by 0.05%. On the day, the local currency traded in a 30c range versus the US Dollar, reaching a low of R15.53 and a high of R15.23. Providing support was banking group Firstrand that released it's results for the year ended 30 June 2018, showing a 12%...
On Tuesday, the reality of South Africa's economic challenges manifested itself in the data set released by Statistics South Africa which showed that the economy contracted by 0.7% for the second quarter of 2018, following on from a 2.6% contraction in the first. Immediately following the release, weakness was seen in the Rand which saw a sharp sell-off from 15.02...
On Friday, the South African equity market continued to soften following the sharp sell-off seen on Thursday. For the session, the All Share Index closed lower by 0.23% while the Top 40 index shed 0.35%. These declines were led by South 32 (-4.17%), AB Inbev (-2.60%) and Naspers (2.51%). On the upside, Bidvest, Bidcorp and Woolworths saw strong buying activity...
It was "Throwback Thursday" on the JSE as the index gave back all of the week's gains due to the extended emerging market contagion. This time we (again) cried for Argentina as the central bank raised interest rates to 60% which saw it's currency plunge to an all-time low of 41.35 to the US Dollar. This impact was seen in the local unit as the Rand closed weaker...
On Wednesday, a weaker South African Rand weighed on local shares, holding the index back from a further advance. On the day, the All Share closed higher by 0.21% but really struggled to find a real direction as financial shares closed lower by 1.14% while other domestic names such as Shoprite, Bidvest and Vodacom declined by 4.23%, 2.14% and 2.03% respectively....
Although gaining on Tuesday, global equities were up only marginally following strong buying activity on Monday. The S&P 500 Index, which tested 2900 for the first time ever, added 0.03% for the session, while Dow Jones Industrial Average traded above 26000. In the tech sector, the NASDAQ Composite held above the 8000 level, adding 0.15% on the day. In Europe,...
Global equity markets started the week on a strong note, continuing the upward momentum following comments last week by the Federal Reserve Chairman Jerome Powell that the committee sees "gradual" interest rate increases and no clear signs that inflation would accelerating above target. Adding to the "risk-on" sentiment was the revised trade agreement between the...
