ASX 200 limped into the weekend down 8 points to 7498 to finish the week relatively unchanged. Quiet with low volumes again. US PPI and Chinese CPI in focus. Banks 'sagged' with the Big Bank Basket down to $193.63(-0.1%). NAB down 0.2% and ANZ falling 0.6%. MQG slid 0.2%, with insurers a little better, SUN…
US markets closed higher on Wednesday trade, with megacap stocks building some momentum, but gains were limited ahead of inflation data and bank earnings later in the week. The Dow Jones rose 171 points (+0.45%) coming off best levels in late afternoon trade following Fed William’s underwhelming comments suggesting “it is still too soon” to…
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?
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 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…
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…
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 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 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…
