JSE ALSI 40 showing leading signs of downside to 60839
M Formation has formed on the JSE ALSI 40.
While the SP500, Dow Jones and Nasdaq have been going up this year, it strangely looks like the JSE ALSI 40 has broken it's correlation.
Not only has America NOT been leading the JSE, it seems like the problems (economically and politically and socially) are showing signs for the country.
Now, either we get another fakeout and the market moves back up and goes "Tricked you again" as it's done this entire year.
Or this is the break down and start of major downside to come for the rest of the month.
Other indicators are showing downside momentum.
21>7
Price<200
RSI<50
Target will be 60,839.
What do you think? Will we get a bounce up or a crash from here?
While the SP500, Dow Jones and Nasdaq have been going up this year, it strangely looks like the JSE ALSI 40 has broken it's correlation.
Not only has America NOT been leading the JSE, it seems like the problems (economically and politically and socially) are showing signs for the country.
Now, either we get another fakeout and the market moves back up and goes "Tricked you again" as it's done this entire year.
Or this is the break down and start of major downside to come for the rest of the month.
Other indicators are showing downside momentum.
21>7
Price<200
RSI<50
Target will be 60,839.
What do you think? Will we get a bounce up or a crash from here?
✅ Facebook:
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timonandmati.com
𝕏 (Formerly Twitter):
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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