Wall Street flatlined overnight on cautious trade following an upward revision to US GDP growth and dovish comments from Fed officials. The Dow ended slightly in the green, up 13 points (+0.04%). Up 162 points at best. Down 11 points at w
SMALL CAP PORTFOLIO SUMMARY Gold continues to head higher. Is everyone bullish? Happy holder of GMD and DEG. For now. Investment Committee meeting at Ausbiz. Yesterday's The Call with Kochie. My Advent Calendar stock pick for 2024. Nailed it with JHX last year. Highly controversial one this year. AM Announcements ORG has rejected Plan B.…
OECD saying Australian rates have peaked.
Oil up overnight but OPEC meeting could go either way.
Resources need a catalyst to bounce. Chinese PMI data out today could start it.
US Inflation tomorrow.
TECHNICAL SUMMARY
S&P 500 overbought on a daily basis.
COH overbought as healthcare kicks back into life.
KAR oversold on a daily basis.
SQ2 overbought after a stunning run.
ASX 200 down 5 – struggling for momentum despite a better vibe for Australian bonds after yesterday’s CPI number
ASX 200 finished up 52 points at 7087 (+0.5%) after a late afternoon surge.ASX 200 up 4.6% for November. A turnaround in the iron ore miners helped on news that nickel from Indonesia would not get a IRA break. BHP up 0.2%, RIO up 0.4% and FMG up 0.9%. Lithium turns around too, with PLS…
The ASX200 rose 20 points to 7035 this afternoon as an inflation optimism rally faded. Technology was the stand-out, gaining all day on hopes the RBA will halt rate rises next year. WTC, XRO and NXT up 2%, 2.9% and 1.4%. Discretionary spending, REITs and Gold sectors also rallied in a similar vein. WES, JBH,…
Dow Jones overbought on a daily basis.
GMG hits a 52-week high and is overbought on a daily basis.
ELD with a daily sell signal.
