The ASX200 is set to plunge around 5% this morning following 2 extremely weak sessions on overseas bourses sending the local market back to levels not witnessed since early 2021. Assuming the US is a gauge, no sectors will be safe from the avalanche of selling that’s likely to hit our market come 10am this morning. The story remains the same with rising inflation leading to investors losing faith that central banks can avoid a recession in the coming year (s). Technical support comes in at 6600 and we believe it might surprise many and hold, at least short-term!
MM is neutral the ASX200 short-term
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