JSE 40 Index | Daily | Speculation
Updated
Looking at the JSE 40 all-share Index on the daily chart we can take note that the index has been trading downwards since peaking sometime during Feb 23, now looking to the left again we can take note that after the release of the 1st quarter Dividend & Earnings release the JSE drop on both accounts.
Now looking to the right, we can take note that the JSE has been hovering/consolidating on our 8,988 level for the past few days ahead of this weeks CPI, PPI & SARB Interest Rate announcements.
Looking further to our right we can expect the JSE to push up from 8,988 to around 9,843 or 10,017 before heading down to 8,229.
Else we can expect the JSE to just tumble down to 8,229 if it closes below 8,988.
Potential Market Movers:
CPI (MoM) - Apr :: 24 May 2023 [exp -0.5%]
PPI (MoM) - Apr :: 25 May 2023 [exp -0.5%]
SARB Interest Rates :: 25 May 2023 [exp +0.25%]
Now looking to the right, we can take note that the JSE has been hovering/consolidating on our 8,988 level for the past few days ahead of this weeks CPI, PPI & SARB Interest Rate announcements.
Looking further to our right we can expect the JSE to push up from 8,988 to around 9,843 or 10,017 before heading down to 8,229.
Else we can expect the JSE to just tumble down to 8,229 if it closes below 8,988.
Potential Market Movers:
CPI (MoM) - Apr :: 24 May 2023 [exp -0.5%]
PPI (MoM) - Apr :: 25 May 2023 [exp -0.5%]
SARB Interest Rates :: 25 May 2023 [exp +0.25%]
Note
Since publishing my analysis on the JSE 40 all-share index mid-last year(2023) we can notice that the JSE has been trading within our current trading range of roughly 1,000 points between 8,980 and 10,017 and hasn’t been able to break either to the upside or to the downside, now given the bleak outlook on global markets for this year as most global economies attempt to find stability and recover from what has been a very bumpy 2023 it’ll be interesting to watch how the global markets will perform during the course of 2024 but I still expect the JSE to push further down to around 8,229 given the potential weakening of global markets during 2024.
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