29/06/2022 09:15

First Up

The ASX200 enjoyed another strong day on Tuesday rallying +0.9%, although over 40% of the main board closed down on the day – it was a stellar performance from the Resources Sector that dragged the index higher e.g. BHP Group (BHP)  +4.3%, Fortescue Metals (FMG) +3.8% and South32 (S32) +3.7%. One of the main themes over the last 6-months has been the huge gyrations across the relative stock/sector performances which definitely remains in play today:

Read more

28/06/2022 09:24

First Up

The ASX200 enjoyed an explosive start to the week with over 80% of the main board advancing led by the banks, energy and tech stocks, if we take the gold sector out of the mix it was almost a clean sweep for the bulls. There are only 3 trading days left of this financial year hence the easiest call for the next few sessions is we should expect plenty of volatility under the hood of the market, in both directions. Second-guessing...

Read more

27/06/2022 08:44

Equity Indices

The ASX200 has fallen 16% since its April high but MM believes a reprieve from the aggressive selling witnessed through June has already commenced, on balance we believe the recent 6407 low will prove a solid platform for a 300-400 point bounce.

Read more

24/06/2022 09:16

First Up

The ASX200 edged higher on Thursday as the broad market managed to successfully offset pockets of aggressive selling in the Resources Sector courtesy of some very tough commentary from Fed Chair Powell around the potential for a recession in the year ahead. The commodities markets have certainly been paying attention with both crude oil and copper plumbing multi-week lows over recent days:

Read more

23/06/2022 08:57

First Up

The ASX200 slipped back into its recent bad habits yesterday with investors prepared to chase a few bargains into weakness but unfortunately, there remains a clear absence of buyers into any meaningful degree of strength – it appears we need some improvement on the macro level before some real confidence returns to stocks but this can often occur when least expected. However, through Wednesday’s session, it was a sharp decline...

Read more

22/06/2022 09:17

First Up

The ASX200 opened strongly on Tuesday as anticipated but it was pleasant change compared to the rest of June that we managed to hold onto these gains although a surging S&P500 Futures market certainly helped the sentiment. The main Australian bourse ended the day up +1.4% with over 70% of the main board closing in positive territory. The Financials & Resources Sectors combined to lead the gains with many energy...

Read more

21/06/2022 09:20

First Up

The ASX200 came under renewed pressure on Monday only from a different sector this time as the miners were smacked in line with their underlying commodities e.g. iron ore plunged 11% at one stage yesterday taking Fortescue Metals (FMG) down -8.6% in sympathy. Over 55% of the main board’s stocks rallied over the day but when the heavyweight resource stocks fall ~5% it’s always going to be tough going for the broad market. It feels like...

Read more

20/06/2022 09:00

Equity Indices

The ASX200 has fallen 15% since mid-April and while more wouldn’t surprise us over the coming months, especially considering the macro backdrop, we believe its time to start considering rotating portfolios away from the established trends of the last 6-months, with one very contrarian idea catching our attention:

Read more

17/06/2022 09:42

First Up

The ASX200 struggled again on Thursday as it failed to embrace the bounce by overseas bourses following the 0.75% interest rate hike by the Fed, or maybe it was simply smarter expecting the recent equities downtrend to continue over the coming weeks – it would appear so this morning! Overall the session was another lacklustre performance which may have seen the winners and losers...

Read more

16/06/2022 09:40

First Up

The ASX200 endured another bad day at the office on Wednesday with the index closing down a further -1.3% after flouting with positive territory at lunchtime. Yesterday’s fall was on a distinct lack of buying as opposed to aggressive selling - investors remaining very nervous, a pretty understandable mindset considering the press, both financial and mainstream e.g. yesterday saw Jarden’s suggest local house prices are set...

Read more