ASX200 Index

The ASX200 continued to feel tired last week, although ultimately it only finished down 0.1%. Our preferred scenario is that the market is headed back towards the 8400 area, or 3% lower, a short-term bearish stance supported by Friday nights weak Jobs Report. However, at this stage, no technical sell signals have been triggered, but after the stellar advance since April and average performance through August and September of minus 3%, over the last decade, it’s not an overly ambitious call.

• On Saturday morning, the SPI Futures were calling the ASX200 to open down 0.4%, with losses mitigated by a solid session by the miners on Wall Street.