The ASX200 is set to open up around +1.4% this morning, just as it did last Monday, this time it threatens to test the psychological 6900 area. If we follow Friday’s impressive performance on Wall Street the financials & tech stocks are likely to lead the gains although it’s hard to imagine investors chasing stocks into tomorrow’s RBA decision, especially after the positive outcome enjoyed last month i.e. have stocks already enjoyed their RBA sugar hit?
- No change, we still believe equities are likely to be trading in the 6400-7200 range over the next 6 months with surprises more likely to be on the upside.
MM remains bullish on the ASX200 into Christmas
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