JSE Top 40 Index: Down 5000 Points!

Research Notes April 2026 > https://www.unum.capital/post/rapril2026

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The JSE Top 40 Index is down by 5000 points.

As mentioned on Sunday: "Traders who are looking to enter a new long at current levels risk a pullback from daily overbought conditions." 

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Previous Post (Sunday 19 April): JSE Top 40 Index / Broad Market Reward-To-Risk

The index has rallied by 16% from our buy/long re-entry and is trading near multi-week highs.

Traders who are looking to enter a new long at current levels risk a pullback from daily overbought conditions. It would be much more prudent to wait until the market retreats, consolidates and build a new base for the next leg higher.

Be careful out there.

Disclosure: The graphics below (excluding the price chart) were generated using artificial intelligence which is based on the analyst's own proprietary data.

Lester Davids

Senior Investment Analyst: Unum Capital