SUMMARY WDS refuses to respond to the oil price rising. Oil up 1.6% on increasing geopolitical tensions. EVN holds up yesterday thanks to small bounce in the sector and copper stocks rallying. No change to NST. EOS holds onto support. Bounces firmly with a 6.6% rise. No change to AD8. One more good day will…
The Australian market has finished the day down 8 points (-0.11%) to 7770. Energy was the standout performer on the back of another strong gain in the oil price (WTI was up 1.7% overnight). WDS and STO up 1.3% and 1.1%. BPT in contrast was hit hard, down 4.3% on multiple broker downgrades after the…
Note to Reader – When you are looking at the correlations on the charts below a high correlation is when the turning points are aligned. Don’t worry about whether the lines overlap and how big the gap is between them, it’s a bit irrelevant, they are on different scales with different percentage movements. The important…
A look at Big Tech versus Big Chips and a look at some of the best trading stocks in Australia
SPI Futures down 8. Record highs in the US. Nvidia takes over. Big Tech versus Big Chip.
Wall Street ended higher overnight following softer-than-expected US retail sales data. The S&P 500 recorded its 31st record high of the year, gaining 0.25%. Boosted by Nvidia up 3.5%, surpassing Microsoft (-0.5%) to become the world's most valuable company. Market cap of $3.335T. The NASDAQ was near flat, while the Dow advanced 57 points (+0.15). Up 159 points at…
BHP has had six rallies averaging 44% since the pandemic including +68%, +61%, +51%, +22%, +40% and +22%.
SUMMARY EOS clings to life in our trade. $1.20 support holds for now. With Wall St higher an uptick is more likely than not. WDS closes right on its $27 support level. WTI up 2.4% overnight will help. The commodities sell-off continues. Everything from iron ore to copper, lithium and uranium. A look at BHP.…
SPI Futures up 29 – Big Tech firing – Strategists upgrading S&P 500 targets – Big FMG placement
