The past 3 days the markets have been pulling back a little bit.When studying these two graphs, the top one is the JSE ALSI Future and the bottom one the Dow Jones Industrial Future, the moving averages have crossed and it looks like the market is losing momentum.
Also looking at our big counters like SASOL, ANGLO and BILLITON the pictures is basically the same, since they make up about 35% of the ALSI Future due to their size in relation to the market.
PPI and unemployment claims are released at 14:30 out of the US and it looks like the economic news is also on the weaker side.
To play it safe I would take profit on my trades if you haven't yet. To go short in this market is a totally different question altogether.
Safe trading
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