SUMMARY Not as many sell signals as expected this morning – maybe on Monday. Big Tech and Tech based ETFs still overbought – not for long. SNAS and BBUS (Bear market ETFs) are Oversold and on year lows – will lift today. Sell signal on GGUS which is geared to the S&P 500 going up…
US markets closed sharply lower overnight in a broad sell-off after fresh jobs data indicated a strong labor market.
SUMMARY Nasty day and more in store. Where is that recession? What to do with WBT. A look at another member’s suggestion. Best chart I have seen for a while. The shock absorber is working but no one cares! Ask the Analyst tonight at 5.30pm. SMALL CAP PORTFOLIO 3.00 pm Update Not all bad news…
MARKET AT MIDDAY The ASX experienced a broad sell-off, with the ASX 200 dropping 114 points to 7049 (-1.6%) as shares of Block Inc (SQ2) tumbled 5.4%. Concerns over potential interest rate hikes by the US Federal Reserve and Reserve Bank, sparked by hotter-than-expected US jobs data, led to selling across all sectors. Fund managers hit the hardest, with Pinnacle Investment Group (PNI) down…
ASX 200 fell 121 points to 7042 (-1.7%). Another soggy end to the week. ASX 200 down 2.2% for the week. Losses across the board from the open, banks hit hard with the Big Bank Basket down to $168.52 (-1.5%) led lower by CBA down 1.7% and MQG down 1.3%. Insurers dropped despite a huge rise in…
ASX 200 fell 121 points to 7042 (-1.7%). Another soggy end to the week. ASX 200 down 2.2% for the week.
I am taking some profits today in the IDEAS PORTFOLIO and throwing in the towel on the BHP and MQG one stock portfolios for the moment. The sugar hit from the RBA pause is well and truly over. That didn’t last long. The ASX 200 was up 33 on the day of the pause, dropped 26 yesterday and the futures are down 37 today.
MARKET AT MIDDAY The ASX dropped 0.9% at the market open, with all sectors in the red, led by losses in the materials sector. Mining and energy stocks declined, while consumer discretionary stocks also performed poorly. Magellan Financial Group (MFG) saw a 7.2% drop in its shares due to outflows, while Square (SQ2) rallied 4.8%. The ASX 200 is down 71 points to 7182…
Blood on the streets on ASX 200 today, closing down 90 points to 7163 (-1.2%), as investors exercised caution after the FOMC meeting minutes reaffirmed expectations that interest rates would remain higher for longer. Financials and miners weighed, with the big four banks losing between 1%-2%. The Big Bank Basket took a hit down to…
