Technical Scans
TECHNICAL SUMMARY
Multiple stocks overbought on a daily basis following yesterday’s big gains.
GMG hits a 52-week high and is overbought on a daily basis.
After languishing for months, CSL is coming back to life.
Pre-market Podcast Thursday – Foot off the gas
The Futures are down 4 points this morning as we think about the 5.2% rally
Marcus Strategy Thursday – Foot off the Gas
The foot came off the gas a touch overnight although the Dow Jones was still up 164 points. The futures are down 4 points this morning, just taking a breather after a 99 point (1.4%) rise in the ASX 200 yesterday. The ASX 200 is at a two-month high.
Member’s Podcast – Thursday 16 November
Foot off the gas – US markets take a bit of a pause.
The Strategy Portfolio is now up 26% this year compared to the ASX 200 up 1%.
A look at the Marcus Today SMA performance.
End Of Day Report – Market Takes a Breath
The ASX200 fell 55 points (0.77%) to 7058 giving up about half of yesterday’s gains as enthusiasm waned. The market saw steady selling throughout the session with the employment numbers not havin
End of Day Report – Wednesday
The ASX 200 rallied 99 points to 7106 (+1.4%), hitting a two-month high. Up 119 at best. The SPI Futures were up 91 this morning. Interest rate sensitive sectors including REITs took centre stage as the top performers today as bond yields softened. GMG +3.4%, SCG +5.1% and VCX +5.6%. Iron ore futures nearly reached a two-and-a-half-year high,…
TLS Investor Day Update – Market Leader Ploughs On
Telstra hosted its investor day yesterday. Not too much to report following their AGM last month. The share price had a (relatively) big fall of 2% as the company reported its fi
CBA Results – All Is Well
CBA released its Q1 trading update yesterday bringing the bank results season to a close. The market reacted well despite a slight fall in net interest margin. Business banking growth was the most impre
Marcus Strategy Wednesday – Nailing it
CPI Number lights the blue touch paper. Can this rally turn into a trend? No chance of another rate rise according to the bond market. US 2Y Bond yields now down 43bp from the top. US dollar collapses as A$ jumps. Interest rate sensitive sectors have their best day in a year. Financials, Tech, Resources and Lithium all come alive.
Pre-Market Report Markets Soar on Cooling Inflation
US equities rallied overnight after cooler-than-expected inflation results raised bets the Fed’s tightening cycle may be over. Bond yields and the USD tumbled. Dow up 490 points (+1.43%). Up 593 at best. The NASDAQ jumped 2.37%, and ~95% of the S&P 500 rose, pushing the index briefly across the 4,500 mark for the first time in…