Sell-off all round
Both BHP Billiton and Nedbank pointing to more downside
THOUGH THE JSE (and other world markets) has shown a relief rally, there are signs of another round of selling to come. We look at a chart of JSE bellwether BHP Billiton for its direction (as well as that of the all-share index). We also look at Nedbank, which reported its results last week. Both charts point to more downside to come. Indeed, there are very few (if any) bullish charts right now – but that means more profits for short sellers, which is a lucrative strategy right now. Please note: For more charts by the author on shares, indices and commodities please go to www. themarket.co.za.