Bull on the run

Both Foot­sie and Indi show­ing signs of short-term ral­lies

Finweek English Edition - - Creating Wealth - COLIN ABRAMS colin@the­mar­ket.co.za Tech­ni­cal an­a­lyst

LOOKING AT IN­DICES this week we show charts of Lon­don’s FTSE 100 In­dex (the “Foot­sie’) as well as the JSE in­dus­trial 25 in­dex (the Indi 25). In­deed, on a medium-term view South African and in­ter­na­tional stock in­dices are looking pos­i­tive. Is this an­other bear mar­ket rally or in fact a new bull mar­ket? I be­lieve it’s a new bull mar­ket. Both the Foot­sie and the Indi are point­ing to higher medium-term tar­gets to come. How­ever, they’re get­ting over­bought over the short term.

Please note: For more rec­om­men­da­tions and charts by the au­thor on shares, stock in­dices and com­modi­ties please go to www. the­mar­ket.co.za.

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