Equities have experienced some classic September weakness which has been amplified within the ASX due to the impact of iron ore as touched on earlier. This month is already the first since February that has traded under the low of the previous month, not a calamity but a clear indication that momentum has waned. We have been looking for some weakness to increase our exposure to Australian equities and things appear to be on track in this historically seasonally weak month, our ideal target on the index level is around 7200, only 2% below where the market is set to open this morning.
MM remains bullish the ASX200 and a buyer of weakness
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