A quiet day – Market up 9 as we tread water after a solid two week rally
Good morning everybody. Wall Street in a holding pattern on Friday night once again. That’s…
Next week sees a break from big-number action. Central bank meeting minutes will headline with Australia’s RBA on Tuesday morning and the US FOMC early Wednesday morning. We will be keeping an eye on the commentary that led to the RBA raising rates and the US holding and whether it supports the new dovish pivot that
Feeling Optimistic?
Summer has come and the Cup’s been run. The long weekend saw the first real taste of summer for Melbourne with shorts and sandals being the order of the day. Cup day was beautiful and sunny, but only just.
Wall St took a breather overnight, ending mixed in a quiet day of trade. Treasuries climbed and the latest economic data supported a gradual slowdown, reinforcing bets the Fed will end its rate hike campaign.
Few buy and sell signals suggest the market is having a pause.
MQG trying to break downtrend.
LNAS prints a small daily sell signal.
SPI Futures down 1 point – what to do?
Karoon to come back on. Might hurt.
Oil price down 4% – doesn’t help.
Lithium vibe not good.
Risk as market takes short-term profits in risk-on stocks.
The market takes a breather – to be expected – oil down 4%, Lithium sentiment takes another hit
MAJOR MOVERS SPR +7.7%, EVN +4.2%, OBM +5.6% Gold flying. NXG +4.8% Gets…