After a wild two weeks, the Top40 is quickly approaching a key resistance level as the US dollar softens. This is on the back of US Jobs data that signals the Fed will hike gradually. And “Trade War” fears that have subsided. 


This risk on sentiment has seen investors buying the dip and remaining bullish. Last night we had the Dow up almost 1% and the S&P up 0.70%. This will provide some support to our market as investors start taking profit, awaiting a break above the key 52,500 resistance on the Top40 future. 


The volatility we have seen in the past few weeks, shows just how fickle investor sentiment can be, you must remain focused on your longer-term strategy and not be drawn into the “Panic”.  


Global investors will be looking at 2nd quarter earnings for cues on the health of the global economy and where the market is headed next. 


Investors should remain cautious ahead of a confirmed break above resistance, and look to buy quality shares, with good long-term prospects, stocks like Discovery, Coronation, Dischem and few of the buys noted in the long-term ideas below. 


The week ahead: 

Last week’s movers and shakers… 

Best Performers: SNH 29.5%, TSX 16.1%, NHM 8.8%, HAR 8.2%, KIO 7% 

Worst Performers: GLN -10.6%, GND -7.7%, DRD -5.2%, DTC -4.6%, ADR -4.3% 


Other Economic data releases of interest… 


None to Buy or Sell 


Long Term Ideas 

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