The ASX200 breached 9000 for the first time last week and its set to do so again this morning after the huge session in the US following Jerome Powells dovish speech – if we follow the US today only some defensive names are likely to lag. However, we are also in the middle of reporting season and more volatility is likely on the stock level this week with Dalrymple Bay (DBI), Regal Partners (RPL), and Aussie Broadband (ABB) some of the companies facing the music this morning.
- From a technical perspective, the bull market remains intact in the short term while the market holds above 8955.
With the banks and resources running together, the surprises can continue on the upside. Remember, surprises usually happen with the trend, and that trend is up at the moment.
- On Saturday morning, the SPI Futures called the ASX200 to open up +0.9%, aided by a $1.10 surge by BHP in the US, taking it above $43 for the first time since late 2024.
MM is now neutral towards the ASX200 in the short term
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