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The Breadth Report

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

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


  1. 🟩 🟢 ↗️ V-Shape Rebound Sweeps Across Laggards: Immediate-term breadth expanded aggressively as beaten-down cyclicals caught an institutional bid. More than 65% of tracked universe constituents printed positive daily candles, led by sharp short-covering wicks in oversold retail, tech, and precious metals.

  2. 🟩 🟢 ↗️ Retail Complex Structural Reclaim: Discretionary and staple retail witnessed an explosive coordinated breadth thrust. Woolworths (WHL) surged +3.49% to reclaim its 8-day (3,744 ZAC) and 21-day (3,802 ZAC) EMAs in one move, joined by Truworths (TRU) (+2.40%), Mr Price (MRP) (+2.65%), and Pepkor (PPH) (+2.13%).

  3. 🟩 🟢 ↗️ Gold Miners Halt Capitulation: The indiscriminate liquidation in gold miners snapped back violently. AngloGold Ashanti (ANG) surged +4.20% to reclaim its 8-day EMA (154,143 ZAC), while Harmony Gold (HAR) (+3.28%) and Gold Fields (GFI) (+2.52%) posted major accumulation days off their basement floors.

  4. 🟨 🟡 ↔️ Banking Sector Low-Volatility Base: Major banks avoided further breakdown following the prior session's distribution. FirstRand (FSR) (+1.19%), Capitec (CPI) (+1.32%), and Absa (ABG) (+0.59%) printed stabilization bars, though all three remain pinned beneath their descending 8-day and 21-day EMAs.

  5. 🟦 🔵 ⬆️ Diversified Miners Confirm Bullish Resumption: Following a one-day pause, Anglo American (AGL) (+3.34%) and BHP Group (BHG) (+1.13%) resumed their structural advance. AGL punched cleanly back above its 8-day EMA (89,673 ZAC) with expanding spread conviction.

  6. 🟨 🟡 ↘️ PGM Complex Internal Decoupling: While gold rallied, platinum extractors lagged. Valterra (VAL) plunged another −2.44% and Impala Platinum (IMP) dipped −1.58% to fresh cycle lows, though Sibanye Stillwater (SSW) (+1.51%) and Northam (NPH) (+1.16%) attempted counter-trend bounces.

  7. 🟦 🔵 ⬆️ Platform Tech Breakout Velocity: Naspers (NPN) (+2.84%) and Prosus (PRX) (+2.03%) printed decisive range-expansion candles, both reclaiming their 8-day and 21-day EMAs and pulling tech sector breadth into positive territory.

  8. 🟦 🔵 ⬆️ Staples & Defensives Print Fresh Highs: Shoprite (SHP) printed 32,500 ZAC (+4.23% 1-month), while Boxer (BOX) jumped +0.79% to 8,270 ZAC, reinforcing pristine moving average stacks and near-100% breadth participation in food retail.

  9. 🟩 🟢 ↗️ Listed Property Resumes Dynamic Bids: The REIT sector re-established its footing after yesterday's wobble. Redefine (RDF) (+1.84%), Equites (EQU) (+1.51%), and Resilient (RES) (+0.71%) re-anchored above their short-term ribbons.

  10. 🟨 🟡 ↔️ Energy & Chemicals Consolidate at Highs: Sasol (SOL) (−1.13%) took a breather after testing 25,335 ZAC intraday, executing an orderly pause well above its ascending 8-day EMA (24,069 ZAC) without inflicting any structural damage.

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