In what is believed to be a world first, and the most complex market breadth indicator ever, PowerStocks Labs have launched the JSE Piotroski Financial Strength Index. This measures on a monthly basis, the percentage of JSE shares that have Piotroski "F" Scores > 6 (Strength) and the percentage of JSE shares that have a Piotroski "F" Score of < 3 (financial distress).
We believe this will become an important tool for investors to guage the financial health of corporate SA as well as offer a leading indicator for recessions and economic recoveries. We are also discovering this index to provide highly accurate cues for stock market peaks and troughs as we index it going back over a decade.
You can read more about this exciting project HERE.