The ASX200 tested its all-time high this time last week but this morning we look set to open down ~2% taking the index back into the middle of its multi-week trading range. With the Resources Sector looking vulnerable to a steep correction it’s hard to imagine the ASX challenging its milestone level as we enter the infamous May i.e. “sell in May and go away”. Overall MM still believes the major action will be on the sector level with some reversion to 2022’s moves looking likely:
- We are anticipating a period where the increasing threats of a recession are likely to see underperformance from the resources stocks while interest-sensitive names should finally enjoy some love.
MM remains mildly bullish the ASX200, albeit only just
Add To Hit List
