The ASX remained anchored around the 8800 level last week despite a difficult week for miners and escalating US-Iran tensions that pushed oil back towards US$90/barrel. The game remains the same, money isn’t moving in or out of the local market, its just rotating between different stocks and sectors. We can still see the ASX200 trading back above 9000 in the coming months but it’s going to need a catalyst to move out of its comfort zone.
- On Saturday morning the futures market were calling the local market to open up +0.6%, this morning, despite further weakness on Wall Street. US Futures have opened flat this morning, despite an escalation in the Middle East over the weekend.
MM remains bullish towards the ASX200 around 8800
Add To Hit List
