Red Week for JSE

Having read Thebe Securities’ most recent news letter reminded me that “no trend lasts for ever and that markets tend to overshoot….and that every trend creates the seeds for its reversal.  Although caution is necessary, it is just possible that we have seen an example of these two.”

The JSE remained under pressure on Friday and the All share index dropped 1.6% to close the day below the 27,000 level on 26,996 points. For the week the market lost 2.2%. All the major sectors closed in the red on Friday, with financials (-2.2%) and industrials (-1.8%) leading the downside. Banks lost 2% on Friday, after the recent strong run in this sector….  Read on

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