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My prediction on the JSE

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Frequent Contributor
I got in at 26800, the only reason I asked was my limited experience has almost always seen the gap close no matter how bullish the situation may apear
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I think there are at least 3 resistance levels being hit right now - the highs from the previous bounce, the top end of the current bull channel, and the Dow sitting at the top end of its channel. Couple that with a bank holiday in the UK today, then today's rally is nothing more than speculation on the status of the dow. So if Wall street decides to close its gap, then I am sure that ours will follow as well.
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Regular Contributor
Will we see 3% today? Just before a crash again towards Friday?
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Eish boet - you need to look into these things a bit more carefully I think. Gaps only close when entered - runnaway gaps are about the most powerful bull - or bear indicator you will find. So when you have a gap - conventional strategy is 50pts into the gap - otherwise you are looking at a massive move against you
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Doesnt this rise seem a bit excessive? Ben only hinted that there might not be a recession and no further stimulus at the moment? Last couple of times we went over 30,000 it was always followed by another crash. All this is still on speculation. I'm waiting for the peak and going short, nothing has been sorted out yet.
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Investors have taken the bait.
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We yesterday closed the "old" GAP still open from 17/08/2011 at 26875
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