Morning Report Wednesday 18th November 2015
The ASX200 soars! Is it time for the Christmas rally? Good morning everyone Overview The ASX200 surged 114 points (2.29%) yesterday, it's last rally over 100 points a day was in September BUT it's certainly a long time since the market felt so bullish. The local index is dominated by the banks and they rallied almost 2.5% guaranteeing a strong day, especially with the energy sector gaining 4.6%. Two sectors that have had a shocking year (banks -8.3% and energy -33.6%) rallying for one day does not make a summer but it does make a pleasant change! Let's just stand back and consider the facts and then were look at some stocks that have struggled in the Market Matters portfolio.Market Matters offer these insights for free on a regular basis - sign up hereTurning to the Markets 1. The average ASX200 pullback in November for the last 5 years is 7.1% followed by a strong rally into January, this year we have corrected 7.5% and then exploded 114 points in one day - see chart 1.
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