The ASX is highly correlated to the US small cap Russell 2000 index which has given us zero leads since February as its consolidated the strong post COVID gains. Medium term we regard the current period of sideways action as very bullish hence our ideal risk / reward action is to buy any spikes down towards the psychological 2000 area – let’s hope it’s not wishful thinking!
MM is a keen buyers of the Russell 2000 ~8% lower
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