Strategy By Henry – Back on Deck
SUMMARY
• Not much to get excited about just yet.
• Thoughts from a visitor.
• Lithium still has power to stir the soul.
• The Three Amigos have been the reason why we have pulled back but the end in sight?
Technical Scans
For those who missed it, see yesterday's Technical Scans refresher HERE. TECHNICAL SUMMARY No daily buy signals today as the market has another skittish sell-off. PDN and BOE overbought on daily basis and hit 52-week highs. Japanese ETFs hit 52-week highs while China ETFs continue to hit 52-week lows. MIN’s uptrend stalls after a heavy fall…
Portfolio Update
PORTFOLIO SUMMARY No changes to Portfolios today despite the market having another skittish sell-off. BHP falls again. Watching the Iron Ore support level. Glad we have some Uranium exposure as PDN hits a 52-week high. Worley’s trading halt ends. A look into what’s been happening. No changes to Portfolios today despite the market having another…
End of Day Report
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…
Pre-Market Report
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 Scans
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 Take
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…
End of Day Report
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…