TECHNICAL SUMMARY
ASX200 and All Ords hit a 52-week low. Next support not until 6440.
Only four daily buy signals and two sell signals in the All Ords.
ASX 200 closed up 15 points at 6827 (0.2%) down only 1% for the week.
ASX 200 closed up 15 points at 6827 (0.2%), down only 1% for the week.…
Why has CSL fallen?
CSL was the foundation stock for everyone’s portfolio. It didn’t pay much dividend but the constant reliable growth made it popular for retirement funds. It was a bottom left top right stock on the charts, rarely taking a dip. It was a share I always wanted in my folio but always thought it was too expensive. Having waited too long for an opportunity, I finally took the plunge on a slight down day and enjoyed a great run for a few years up to, and including the start of Covid. CSL had gone from 76.7c when it was floated by the Keating government in 1994 to a peak of $336 a shar
Woolworths released first-quarter sales results on Wednesday and hosted its AGM yesterday. The results were mixed with Australian grocery sales outperforming while Big W and NZ underperformed.
JB HI-FI updated the market yesterday with its first-quarter sales and AGM. A similar story to Woolworths almost with JB Australia performing well, the Good Guys flat and JB NZ disappointing.
Bond yields drop despite the GDP number. Waiting for the PCE Price Index. What will be the signs at the bottom.
A look at the Banks, Resources and Tech Sectors.
FOMC next week. RBA on Cup Day.
Wall Street finished lower overnight amid mixed earnings, robust economic data showing resiliency and falling…
Wall Street finished lower overnight amid mixed earnings, robust economic data showing resiliency and falling bond yields. The Dow ended near worst levels, down 252 points (-0.76%). Up 69 points at best. Down 292 points at worst. S&P 500 fell 1.18%, edging closer to a correction, with the index now down ~10% from its July peak. The NASDAQ slumped 1.76%.