PowerStocks Research has launched the JSE MomentumMap, an indicator of overall share price momentum on the JSE.
At a single glance the MomentumMap shows what proportion of the market is
in a downward slide,
is attempting a recovery
has achieved a downward reversal
is surging up strongly
is climbing steadily in accumulation stage and
possibly peaking or taking a breather from a rise
The MomentumMap is directly related to the Share Timing Monitor (STM) devised by our research teams to assist our readers time purchases of shares for their Strategy Indexed Portfolios.
The MomentumMap as at 15 March is shown below and depicts a market where the bulk of shares (43%) are still headed downward, 13% attempting to stage recoveries and 18% having bounced off a large bottom. Just on 18% of the ORD shares are making stronmg upward surges, but very little have steady rises after initial surges or are peaking (coming off highs or strong upward moves).