The ASX200 is showing ongoing signs of a recovery following its September retracement, the heavy lifting is still being done by the “reopening trade”, banks and energy names a trend MM feels will be ongoing into Christmas. However as we saw on occasion last week the growth names and to lesser extent iron ore miners are gaining strength which is likely required for the market to reach our targeted area where MM is likely to migrate down the risk curve.
MM remains bullish Australian equities looking for the 7700-7800 area by the ASX200 into Christmas
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