Indices: Australian ASX 200
The ASX200 is starting to shrug off bad news as was evident yesterday when the local index gained +0.2% in the face of bearish news on both the Australian economy and the US corporate front:
The ASX200 rallied another +0.3% on Tuesday as it continues to toy with the psychological 6800 area, as we’ve said previously the market set-up is evolving with an uncanny resemblance to its look & feel through late June, into July. Four months ago once the consolidation was over the market rallied strongly without a backward glance, we are currently wary that many investors are too pre-occupied with the Fed’s interest rate decision and rhetoric next Tuesday when a more…
