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…
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…
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…
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…
US markets closed slightly higher on Friday night, giving up early gains as profit taking continued and the unemployment rate came in slightly lower than expectations. The Dow finished up 26 points or 0.1%. The S&P 500 finished up 0.2%, having been up 0.6% in early trading and the NASDAQ closed up 0.1%. For the…
The ASX200 has closed down 38 points (0.5%) to 7452, falling for the fourth straight session. More profit-taking, Dow futures falling, and nervousness for this week’s inflation data prompted an afternoon sell-off. The selling was fairly broad based with Consumer Staples, Materials, Tech and Health Care all worst off down between 0.6% and 0.8%. Telecoms,…
The Wall Street sell down didn’t follow through – back to normal.
Our market quiet as you’d expect – no follow through on yesterday’s selling
