Wall Street ended higher overnight in a muted day of trade ahead of CPI data Wednesday. Dow Jones up 210 points (+0.62%). Dow at best up 223 points. Dow at worst down 29 points. S&P 500 up 0.24%. NASDAQ was little changed up 0.18%. VIX +1.62%. US treasuries were lower, 2Y yields continued to come…
SUMMARY The most significant observation is a "Top in Tech". We have Weekly (more significant) sell signals on the NASDAQ and a number of Tech related ETFs. Weekly sell signals on the S&P 500 and S&P 100. Is the US topping out? A buy signal (Daily) on gold. Not a lot of ASX signals. The…
MARKET AT MIDDAY The ASX 200 is up 66 points to 7070 (+1%), rebounding from three-month lows, and on track set to snap its four-day losing streak. Gold and Lithium miners leading the advance on stronger metals prices, with Evolution Mining (EVN) +3.2% and Alkem (AKE) +2%. Tech stocks also performing well, with Wisetech (WTC) +1.8%, Block Inc (SQ2) +4.1%, and REA Group (REA) +2.5%. Aussie bonds dropping lower. 10-Year down 2bps and 2-Year down 7bps. Dow futures down 4 points.…
ASX 200 closed up 105 points to 7109 (+1.5%), lifted by mining and gold stocks snapping a four-day losing streak with all sectors in positive territory. Gold miners outperformed today as gold prices firmed slightly overnight, and the US dollar extended a small retreat. EVN +4.6%, NST +3.1%, and NCM +1.8%. Mining trio BHP, RIO…
The ASX 200 fell 121 points on Friday, closing at its worst levels, and finished the week down 2.24%, losing all of the previous week’s gains. PMT was sold off down 7.37% due to a short report from Night Market Research which outlined damming claims such as “its leadership team has a history or shareholder…
MARKET AT MIDDAY The Australian share market, bounced back after a drop last week. The market opened with up 0.5%, driven by the materials and energy sectors. Mining stocks rose by 1%, with gold producers De Grey Mining (DEG) +3.2%, Regis Resources (RRL) +4.1% and Newcrest Mining (NCM) +1.4% experiencing notable gains. Iron ore giants BHP Group (BHP) +0.2% and Fortescue Metals (FMG) +0.1%, also saw positive movement. GQG Partners (GQG),rose 3.1% after…
ASX 200 closed down 38 points to 7004 (-0.5%) after a jump of 42 points at the opening bell, rebounding from last week’s sell-off before the market turned lower on weak consumer inflation data from China. Gold outperformed today, tracking an uptick in bullion prices. NST and NCM up 1.8% and 1.1%, respectively. Energy stocks…
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MARKET AT MIDDAY The ASX experienced a broad sell-off, with the ASX 200 dropping 114 points to 7049 (-1.6%) as shares of Block Inc (SQ2) tumbled 5.4%. Concerns over potential interest rate hikes by the US Federal Reserve and Reserve Bank, sparked by hotter-than-expected US jobs data, led to selling across all sectors. Fund managers hit the hardest, with Pinnacle Investment Group (PNI) down…
