Search this site

Thank you for your interest in our research. Our aim is to convey insights that help clients: (1) Manage Risks and (2) Uncover Opportunities. Year-to-date we have published over 1000 research notes that helps clients do just that. If you've been a consumer of our research but have not traded via the Unum Capital trading desk, why not consider making us your trading services provider? To open a trading account and/or move from your existing service provider, email   tradingdesk@unum.co.za Free Global Equity Indices (S&P 500, FTSE 100 & More) https://www.unum.capital/post/gloeind Free Commodities Snapshot + Bull-Bear Probabilities https://www.unum.capital/post/commts Free Trading Gold (XAU/USD) https://www.unum.capital/post/goldcons Free Running 20%: ARK Space & Exploration https://www.unum.capital/post/arkxrun Free High Beta/Low Volatility: A Tell On Risk Appetite https://www.unum.capital/post/hibelow Free Astral Foods https://www.unum.capital/post/arltrig Free Offshore: Citi Running 14% on Strong Results & Buyback https://www.unum.capital/post/citirun Free +60 Shares Commentary (incl. ANH, CFR & INL) https://www.unum.capital/post/comminl Free JSE Breadth: Accelerate Deterioration & Bearish Expansion https://www.unum.capital/post/accelde Free US 10-Year Bond Yield https://www.unum.capital/post/bondyi Free Playbook: JSE Big 4 Banks https://www.unum.capital/post/bankspb-1 Free Trading Capitec Bank https://www.unum.capital/post/capbank Free US Dollar Index: Take Note https://www.unum.capital/post/dxyreb Free Trading Exxaro Resources https://www.unum.capital/post/exxtgt Free Russell 3000: Early Risk via Breadth Readings https://www.unum.capital/post/rurisk Free Rare Earth Metals: The ETF That Gives You Exposure https://www.unum.capital/post/remxetf Free (2x) NextEra Energy & WEC Energy https://www.unum.capital/post/utestocks Free +60 Shares Commentary (incl. GFI, NY1 & SHP) https://www.unum.capital/post/ttgshp Free Trading Mr. Price https://www.unum.capital/post/mrpctr Free VanEck Steel ETF https://www.unum.capital/post/slxetf Free Lithium Exposure: Consider $PIL & $QS https://www.unum.capital/post/litstocks Free Utilities ETFs/Shares https://www.unum.capital/post/vpuetf Free Trading Sasol https://www.unum.capital/post/sasolrunn Free Market Risk Index: Multi Time Frame https://www.unum.capital/post/mriskmtf-1 Free Breadth/Internals: Interpretation of Market Conditions https://www.unum.capital/post/bdrthd Free JSE Relative Sector Analysis https://www.unum.capital/post/jsrecan Free Ranking The Sectors https://www.unum.capital/post/ranksec Free Capital Flows/Rotations https://www.unum.capital/post/capflow   Free JSE Sectors: Leaders | Movers | Laggards https://www.unum.capital/post/leadmove Free JSE Top 40 Index https://www.unum.capital/post/jforty Free S&P 500 Index https://www.unum.capital/post/spypau Free Richards Bay Coal Futures https://www.unum.capital/post/rbcoalf Free Trading Naspers & Prosus https://www.unum.capital/post/pronas Free iShares Microcaps ETF https://www.unum.capital/post/iwcetf Free Invesco Nasdaq Next Gen 100 ETF https://www.unum.capital/post/nextgen Free Natural Resources: 2 ETFs For Exposure https://www.unum.capital/post/nresour Free Trading Spar https://www.unum.capital/post/tsppar Free Discovery: Generating Cash https://www.unum.capital/post/disccash Free Trading British American Tobacco https://www.unum.capital/post/btiobo Free Coal Miners (Relative: Monthly) https://www.unum.capital/post/coalrelm Free Thungela Resources https://www.unum.capital/post/tgarec Free US Market Breadth https://www.unum.capital/post/breadthntk Free Global Idea: ArcelorMittal https://www.unum.capital/post/mtadr Free Global Idea: Vodafone Group Plc https://www.unum.capital/post/vodlse Free Factor & Style Analysis: 5-Day, 1-M & 3M https://www.unum.capital/post/usfacan Free Palladium (XPD/USD): Running +30% https://www.unum.capital/post/xpdrun Free Physical Palladium ETF: Running +16% https://www.unum.capital/post/pallrun Our Capabilities:   BHP Group https://www.unum.capital/post/bhgten Our Capabilities:   Kumba Iron Ore https://www.unum.capital/post/kumiorun Our Capabilities:   Silver Miners (SIL ETF): Target Reached https://www.unum.capital/post/silver50 Our Capabilities:   Pan American Silver Corp: Target Reached https://www.unum.capital/post/paasthirty Our Capabilities:   Copper: Then vs Now https://www.unum.capital/post/hgupdt Our Capabilities:   Running 150% https://www.unum.capital/post/onefifty Free +60 Shares Commentary (incl. CPI, SHP & TRU) https://www.unum.capital/post/comqlt Pre-Market (JSE): Friday, 11 July 2025 U.S. Market Factors Visit us daily at: https://www.unum.capital/blog Archive: Year-To-Date 07 July to 11 July https://www.unum.capital/post/r0711july 30 June to 04 July https://www.unum.capital/post/r3004july 23 June to 27 June https://www.unum.capital/post/r2327june 16 June to 20 June https://www.unum.capital/post/r1620june 09 June to 13 June https://www.unum.capital/post/r0913june 02 June to 06 June https://www.unum.capital/post/r0206june 26 May to 30 May   https://www.unum.capital/post/r2630may 19 May to 23 May https://www.unum.capital/post/r1923may 12 May to 16 May   https://www.unum.capital/post/research-12-16-may-2025 05 May to 09 May   https://www.unum.capital/post/research-05-09-may-2025 28 April to 02 May   https://www.unum.capital/post/research-28-april-02-may-2025 21 April to 25 April   https://www.unum.capital/post/212504 14 April to 18 April   https://www.unum.capital/post/research-14-18-april-2025 07 April to 11 April   https://www.unum.capital/post/research-07-11-april-2025 31 March to 04 April   https://www.unum.capital/post/research-31-march-04-april-2025 24 March to 28 March   https://www.unum.capital/post/research-24-28-march-2025 17 March to 21 March   https://www.unum.capital/post/research-17-21-march-2025 10 March to 14 March   https://www.unum.capital/post/research-10-14-march-2025 02 January to 07 March   https://www.unum.capital/post/latest-research-january-2025 Lester Davids Senior Investment Analyst: Unum Capital * Disclosure:  To compliment our existing research, we have started incorporating automated tools such as Artificial Intelligence (A.I). Here are three ways in which it helps us: (1) SORT  (large data sets); (2) SPEED  (get/sort the information, quicker); (3) SIGHT  (enhance the visual appeal of our charts/data).

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za ARKX is the first actively managed fund that targets the global space exploration and innovation industry. The fund advisor defines space exploration as leading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth, and innovation as the introduction of a technologically enabled new product or service that the advisor expects to change an industry landscape. Space exploration-related companies include orbital and suborbital aerospace, enabling technologies, and beneficiaries of aerospace activities, such as agriculture, GPS, and imaging. The fund typically holds a concentrated portfolio of 40 to 55 domestic and foreign securities, selected using a proprietary methodology that combines both top down information (economy-wide analysis) and bottom up criteria (fundamental and quantitative metrics for individual firms), along with ESG considerations. What's In The Fund Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (15 July): Russell 3000: Strong Rebound +27% Following 'Washed-Out' Breadth Readings; Now, Bearish Divergence Provides Early Warning on Risk The Russell 3000 has rallied by 27% since we highlighted the 'washed-out' breadth readings. Bearish divergence via % of shares above their 20-day & 50-day moving averages Previous Post (Sunday, 06 April): Russell 3000. These Chart Help Us Understand... The Russell 3000 Index (three thousand) measures the performance of 3,000 stocks and includes all large-cap, mid-cap and small-cap US equities, along with some microcap stocks. The index is designed to represent approximately 98% of investable US equities by market capitalization. In this note we consider the index breadth readings i.e. the percentage of shares above the 200, 50, 20 and 5-day moving averages. This helps us understand the breadth of the sell-off and whether the current readings is comparable to that of or (near) previous bottoms. % of Shares Above The 200-day Moving Average = 15.57% % of Shares Above The 50-day Moving Average = 7.41% % of Shares Above The 20-day Moving Average = 5.37% % of Shares Above The 5-day Moving Average = 2.44% The chart below highlights two items:(1) the Russell 3000 index (upper panel) and (2) the % of shares above their 200-day moving averages. Here, we also highlight the index lows over the past decade vs the low in the breadth (% vs 200-day). At current levels, the percentage of shares above their 200-day moving averages is 15.57% which is near the low. It's worth noting that in March 2020 the percentage of shares above their 200-day moving averages was just below 5% which indicates that breadth has the ability to further deteriorate from current levels. Lester Davids Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (24 June): Global Idea: Citigroup's Multi-Year Base Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Click on the image to enlarge. Readings as of the close of trade on Tuesday 15 July. These are subject to change as the price action develops. Short Term (approximately 1 to 10 days) Medium Term (approximately 2 to 4 weeks) Long Term (approximately 5 to 8 weeks) Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Pre-Market: Friday, 11 July 2025 Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Previous Post (Tuesday 01 July): US 10 Year Bond Yield: Lower Levels Expected Before Long Term Rebound Lester Davids Senior Investment Analyst: Unum Capital

Research Notes For 14 to 18 July > https://www.unum.capital/post/r1418july Trade   Local & Global Financial Markets with Unum Capital. To get started, email   tradingdesk@unum.co.za Lester Davids Senior Investment Analyst: Unum Capital