BREAKOUT, BULLS EYE JULY HIGHS

The Bulls won a glorious battle today as it broke the 26,000 points in a full sweep up by 575.68 points with the biggest single day hit of the month closing at26,411.97. Total value traded today was N4.200 bn.

This current rally is knocking the doors close to its July Highs of  27,227 recorded in 2009.

The Banking Sector most traded and highest index gainer up by 3% signifies investors interest in bookung strategic positions on expected BONUS & Dividends to be declared. (GTB, UBA).

Zenithbank and GTB shares hold the ACE of tomorrows trading. A Negative trigger on these stocks will change market scenario. So stay Alert.

Technically, viewing the market from a weekly/monthly time frame. Macd and MACD Histogram are showing signs of Bullish cross-overs and Very Strong BUY confirmation signals. While some stocks are showing signs of INVERTED HEAD & SHOULDER PATTERN.

As Daily time frame are in an Over-bought regions with possibilities of short-term reversals, bear in mind that Weekly/Monthly time frames are there to the rescue. It's more of a WIN WIN situation.

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