No change towards the local index as it looks for direction around the 7000 area, our preferred scenario is we see another test on the downside before another exciting “Christmas Rally” but it’ not a view which in our opinion commands an aggressive stance. However we do expect ongoing stock & sector rotation with the tech stocks starting to tire on the upside.
- MM is neutral Australian equities short-term, another topping pattern similar to the one which unfolded through late April wouldn’t surprise.
MM remains neutral the ASX200 around the 7000 area
Add To Hit List
