The ASX200 bounced last week but it continues to lag the US which will probably post fresh highs this week, a milestone which still “feels” a long way off for the local market. However over the last decade on a number of occasions I had thought stocks would fail to deliver a “Christmas Rally” only for it to literally come out of nowhere – remember the predominant characteristics of the traditional surge into January is an absence of selling as opposed to aggressive buying.
MM is still mildly bullish into 2022 due to the combination of seasonality factors and general “Gut Feel” plus of course the trend is your friend and that’s still up but there are some macro concerns lurking in the shadows hence we believe this remains an important time for investors to remain open-minded.
MM remains cautiously bullish the ASX
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