ASX200 Index

The ASX200 has slipped 1.2% so far in September, which is nothing dramatic, although the local index has been noticeably soft compared to the US Indices, with the S&P 500 posting new intra-day highs on Friday. Looking forward, our “Gut Feel” continues to target a test of the 8700, or 8450 level over the coming weeks/months; considering the ASX’s 26% rise from its April low, the current 2% pullback hardly registers, and some short-term storm clouds are looming for stocks from the risk of disappointment on the interest rate front to increasing tensions between President Trump and the Shanghai Cooperation Organisation (SCO), which includes China, India, and Russia among its members

• On Saturday morning, the SPI Futures called the ASX200 to open down 0.7% this morning, back around the 8800 level.