The ASX200 has now slipped -3.5% from its high at the start of December, it feels worse but the move is no more than normal market noise which arguably has been relatively tame when we consider the recent activity by central banks.
- At this stage we are giving a Christmas rally, probably on decreasing volume, the benefit of the doubt but MM remains cognisant of how far stocks have already rallied in just 2 months i.e. if we do see the 7400 area it feels like an optimum time to de-risk and review.
MM remains cautiously bullish on the ASX200 into Christmas/2023
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