The ASX 200 bounced back strongly from the slide yesterday closing up 38 points to 7506 (+0.5%). All systems go,Asian markets helping too as Japan hit 35k. Quiet trade again though. Banks were once again leading the charge, the Big Bank Basket hit $193.87 (+1.2%) with CBA up 1.4% and WBC up 1.2%. MQG also…
Wall Street closed slightly lower as markets await upcoming inflation data. The Dow Jones traded lower all day before finishing down 158 points (-0.42%). Down 310 points at worst. S&P 500 lost 0.15%, weighed by commodity and financial shares, while the NASDAQ finished near flat. 10Y treasury yields remain above 4%, and the 2Y yield was marginally…
TECHNICAL SUMMARY NAB and BOQ rise back into overbought territory. MPL overbought on a daily basis. SGR prints a weekly buy signal after returning -66% last year. Coal stocks overbought on a daily basis. COH overbought on a weekly basis. OBSERVATIONS NAB and BOQ rise back into overbought territory. Short and long-term moving averages firmly in uptrend. MPL overbought…
STRATEGY SUMMARY A quiet night as the market awaits inflation data. S&P 500, bond yields and gold close to flat. World Bank predicts global growth to slow for third straight year. A refresher on some basic technical analysis. No changes to Strategy or Portfolios. A quiet night for global equities as markets go on pause…
The ASX200 has fallen 52 points (0.7%) to 7469, giving up most of yesterday’s gains and falling heavier than futures this morning were implying. Real Estate, Tech, Health Care and Consumer Optional spending finished in the green while the other seven major sectors saw red. Gains in positive sectors were driven by SGP and GPT…
The ASX200 has risen 69 points (0.9%) to 7521 in a day of strong buying. Tech was the best performer following the NASDAQ higher. WTC and XRO rose 2% and 3%. Healthcare finished 2nd taken higher by CSL up 1.1%, and RMD up a huge 5.6%. The next seven major sectors all finished in the green with…
STRATEGY SUMMARY Our market fails to breakout of its long-term trading range. No major reasons for the nervous sell-off yesterday afternoon. Wall St rallies on Nvidia and bond yields falling (a bit). Oil down but not selling WDS yet. Chances of a Fed rate cut in March are falling. A nervous sell-off yesterday saw the…
TECHNICAL SUMMARY No daily or weekly buy signals after yesterday’s sell-off. ASX200 bounced almost exactly off the top of its trading range last week. The CBA prints a weekly sell signal. The Health Care Sector prints a daily sell signal after being heavily overbought. CSL still overbought on a daily basis. FMG prints a weekly…
US equities kicked off the week on a positive note, with tech stocks pushing markets higher. The NASDAQ gained 2.2%, led by megacap tech stocks Amazon, Google and Apple, all up over 2%, while chipmakers Nvidia and AMD advanced more than 5% each. The S&P 500 rose 1.41%, and the Dow Jones recovered earlier losses to…
