ASX200 Index

The ASX200 made new highs last week but is set to open below 9000 this morning with many of the recent heavy hitters set to sell off. In Friday’s US session, the gold stocks plunged ~7% while the uranium miners dropped ~6%, copper names retreated ~2.5% and BHP fell 80c. If the broader market doesn’t enjoy some support, and especially the banks, the local index could find itself retesting its October low back around 8800 before we know it.

• The SPI Futures are calling the ASX200 to open marginally lower this morning, still close to the psychological 9000 level, though there are signs of waning momentum.