The ASX200 is set to open down around 1.5% this morning following another Friday tumble on Wall Street but unlike its US peers the local index is trading 5.4% above its 2022 low following the RBA’s well-received surprise 0.25% rate hike earlier in the month – MM still believes the local market has found a low and we will be trading comfortably higher around Christmas.
- No change, we still believe equities are likely to be trading in the 6400-7200 range over the next 6 months i.e. the risk/reward still favours the buyers around 6650 this morning.
MM remains bullish on the ASX200 into Christmas
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