JSE Top 40 Index - Approaching Overbought/Extended To The Upside AROUND These Levels?
- Ultra short term - trading 2x std deviation over 20 days (see smaller internal channel)
Also, trading 2x std deviation over 200 days (see larger expanded channel)
Also note the price extension vs the 200-day simple moving average. It cannot get too far without 'snapping back'. In addition, the 200-day SMA is FLAT - thus making a reversal more likely.
FOMC minutes showed the FED won't be in a hurry to cut... and yesterday's data showed the labour market remains in good shape. Now we await the December payrolls report, due in 2hrs.
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