Yesterday our market inched up another 28 points to close at 29295, falling back from an intraday high of 29411.The US markets retreated last night by closing down almost 1% and the VIX spiking up 4.58%. US futures indicate an unchanged start to the day, but it's way too early to tell.
It looks like the market rally is losing steam, so be cautious in putting on new long positions. Take some profit from profitable trades and either wait for the market to break up again, or to pull back a little.
Our futures market is trading down 49 points since the open, and it looks like it can break down to the 26000 level today. The rand is trading steady just above R7/$. Any stocks with foreign exposure would benefit if the rand should weaken.
Safe trading
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