The ASX200 continues to enjoy an extremely strong start to January but it is starting to feel tired around the 7500 area as some of the large caps that have led the index higher over the last 4 weeks run out of steam e.g. last week BHP Group (BHP), Westpac (WBC) and CSL Ltd (CSL) all edged lower.
- We are still looking to slowly sell into strength over the coming weeks, although a break to all-time highs is still a distinct possibility i.e. patience is a virtue.
- We remain buyers of weakness and sellers of strength this year although as opposed to 2022 we are now more skewed to the buy side.
MM remains cautiously bullish on the ASX200 into February
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