Treat All Share with cau­tion

And euro likely to rally against the US dol­lar

Finweek English Edition - - Coverstory - COLIN ABRAMS

TURMOIL ON in­ter­na­tional mar­kets has led to a sharp sell-off on the JSE. Is that a con­tin­u­a­tion of the prior bear mar­ket or a correction in a (cur­rent) bull mar­ket? We show a chart of the JSE All Share In­dex in at­tempt­ing to an­swer that ques­tion. My view is the lat­ter: ie, a correction in the cur­rent bull mar­ket. Nev­er­the­less, there’s still sig­nif­i­cant down­side po­ten­tial over the short term. We also look at a chart of the US dol­lar/euro that – af­ter many months of fall­ing – is near­ing a multi-year sup­port level. 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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