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The Breadth Report

Writer: Lester Davids
Lester Davids
3 days ago
2 min read

Disclosure: The commentary below was compiled using an artificial intelligence tool, based on my own data.


  1. 🟩 🟢 ↗️ Coordinated SA Inc. Tactical Reclaim: Immediate-term breadth has experienced a violent positive shift. Across the domestic banking and retail complex, constituents are printing coordinated daily closes back above their 8-day Exponential Moving Averages (EMAs), signaling an abrupt halt to institutional distribution.

  2. 🟩 🟢 ↗️ Banking Sector Liquidity Injection: The major banks successfully defended critical macro support levels. Standard Bank (SBK), FirstRand (FSR), and Absa (ABG) generated uniform +1.1% to +1.6% gains, breaking their short-term downtrends and reclaiming their 8-day EMAs in a single session.

  3. 🟨 🟡 ↔️ Retailers Hooking Up From the Basement: Battered apparel retailers Woolworths (WHL), Foschini Group (TFG), and Truworths (TRU) printed strong accumulation wicks, snapping back above their 8-day EMAs. However, they remain trapped beneath heavily descending 21-day and 75-day EMAs.

  4. 🟦 🔵 ⬆️ Insurance Sector Breakaway: The life and multi-line insurance complex has decoupled to the upside. Sanlam (SLM) exploded +5.48%, completely engulfing its 1-month distribution, while Santam (SNT) held its staggering +19% prior-session gains, expanding market breadth at the upper extreme.

  5. 🟥 🔴 ⬇️ Precious Metals Divergence: Gold and PGM miners are actively resisting the broader market bounce. Harmony (HAR), Impala (IMP), and Northam (NPH) printed consecutive lower lows, dragging sector breadth to near-zero as prices compress further beneath fully inverted moving average stacks.

  6. 🟨 🟡 ↘️ Diversified Miners Digest Gains: The global multi-commodity anchors (AGL, BHG, S32) absorbed mild profit-taking (−0.0% to −0.8%), cooling short-term breadth. They are now consolidating directly on top of their 8-day EMAs, digesting their massive multi-week runs without structural damage.

  7. 🟩 🟢 ↗️ Telecoms Base-Building Verified: Vodacom (VOD) (+1.61%) and MTN Group (MTN) (+2.09%) have successfully defended their multi-month horizontal support floors. Both have reclaimed their 21-day EMAs, expanding short-term breadth across the communications quadrant.

  8. 🟦 🔵 ⬆️ Chemicals & Energy Maintain Supremacy: Sasol (SOL) (+1.28%) and Omnia (OMN) (+0.20%) continue to display pristine breadth expansion, riding the upper bands of their 8-day EMAs without any significant mean-reverting pullbacks.

  9. 🟨 🟡 ↔️ Property Sector Rotational Churn: The listed property space is showing mixed short-term participation. High-yield domestic REITs (VKE, RES, RDF) are printing marginal positive ticks, but remain sandwiched tightly between their 8-day and 21-day EMAs in directionless churn.

  10. 🟥 🔴 ⬇️ Specialty Retail Capitulation Lingers: Despite the broader SA Inc. bounce, We Buy Cars (WBC) failed to reclaim its 8-day EMA. Though the velocity of the sell-off slowed (+2.15% daily bounce), the stock remains structurally impaired and isolated from the broader retail recovery.

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