This index has been in a sideways consolidation for the last 12 trading days. We discussed the possibility of a correction or a sideways consolidation in a previous post and the fact that the market moves sideways and does not come down, is a sign of underlying strength.
Over the past week, we bought shares in companies where the buyers are in control of price movements. The industrial companies are leading the market to the upside while the mining sector is lagging. We'll keep our focus on industrial companies until such time as the situation changes.
