The ASX200 has continued to consolidate over the last few weeks, which is no surprise to MM after its impressive surge from its April lows. However, as expected, the volatility is rising on the stock and sector levels. We maintain our bullish skew towards local stocks, but as we said last week, we don’t believe all stocks will move as one. Our “best guess” target for 2025, the 8800-9000 area, is less than 4% away, which also ties in with our outlook for a choppy advance with the remainder of 2025. The RBA is expected to cut rates by 0.25% on Tuesday – credit markets are saying there’s a 96% chance. Assuming this goes ahead as expected, it’s likely to support the local market in dips.
- The SPI Futures were calling the ASX200 to open flat this morning after the US holiday on Friday night.
MM is cautiously bullish on the ASX200 through 2025
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