The ASX200 is set to open up around +100-points this morning following a strong session on Wall Street which saw the Dow rally over 750-points. Yesterday’s dip by local stocks which tested this year’s 6400 lows may have been the final washout which would be ironic as it occurred on a Public Holiday for most of Australia but either way MM believes the market is looking for / has found a low and we will be higher into Christmas.
- No change, we still believe equities are likely to be trading in a 6400-7100 range over the next 6-months i.e. the risk / reward favours the buyers at current levels.
- We remain bullish at current levels believing we should see improved performance from the rate sensitive names as bond yields drift but investors may need some convincing.
MM remains bullish the ASX200 into Christmas
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