🟥🟩🟧 JSE Sector Momentum Dashboard

+30 Take Profit Opportunities: Our Capabilities > https://www.unum.capital/post/capabilities

Free Content: July 2026 > https://www.unum.capital/post/rjuly2026

Trade Local & Global Financial Markets with Unum Capital.

To get started, email tradingdesk@unum.co.za

NOTE: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes

Published after the market close on Thursday 02 July, for Friday 03 July.

Early-July Macro Overlay

The rotation across the market has taken a distinct turn as Q3 begins, with a dramatic cooling of short-term momentum across former safe havens and secular leaders alike. While Banks continue their absolute dominance, maintaining an iron grip on their leadership position, previous stalwarts like Luxury Goods, Telecoms, and Insurers have seen their short-term trajectories flatline into temporary digestion phases. Conversely, Consumer Discretionary and Hospitals have surged aggressively to join Banks at the apex of near-term velocity. On the negative side, the severe distribution within the commodities space remains highly fragmented; while Diversified Miners show signs of near-term stabilization, Coal Miners have completely collapsed into intense selling pressure.

• Apex Leaders: Banks, Consumer Discretionary, Hospitals

• Cooling Off: Luxury Goods, Telecoms, Insurers

• Deepening Weakness: Coal Miners, Chemicals

Lester Davids

Senior Investment Analyst: Unum Capital