Morning Report Monday 12 October 2015
For today's title we have been inspired by William Shakespeare and his famous play ‘Hamlet’.
For those who have read or weekend report, “Market Matters would expect the market to go up from here into at least mid-November based on past cycles with the big bank dividend kicking in during this period. At this point we would expect a pullback for another buying opportunity into Christmas”. Thus, it’s time to focus on more stock specific situations.
However, after a very rapid 7.4% rally investors need to be aware of a potential return to recent negativity. In this regard, The Chinese share market looks a very likely catalyst for any short-term retracement with the current wave count targeting a final panic low in coming weeks ~10-15% lower - see chart 1.
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