Indices: Australian ASX 200

The ASX200 again outperformed most global indices last week rallying impressively towards all-time highs, with April commencing on Friday things look good for local stocks short-term i.e. seasonally we’re coming into the 2nd best month of the year, just behind December. We’ve maintained a net bullish / “buy the dip” stance through 2022 which has worked nicely, short-term the market still “looks & feels great” with a pop to new highs remaining our preferred scenario.

The ASX200 demonstrated its resilience yesterday after managing to eke out a small gain even after the Dow fell over 400-points, we believe the local market will continue to outperform the US over the coming weeks / months. The market peaked at 7399 into the close helped a recovery by the US futures during our day session but by midday the ASX had already confirmed the notable absence of any selling…