The ASX200 took a breather last week as uncertainty crept into the market even with the fabled December now only 10-days away, importantly with the index having already reached our 7200 target area we believe the “easy money” from the October low is well and truly behind us. We anticipate a grind higher with more action unfolding on the stock/sector level where selling strength is our preferred stance until further notice.
- No change, we still believe Australian equities can rally into Christmas but it’s hard to imagine a significant upside move from current levels.
- After a terrible year we can see 1-2 months of outperformance from the growth/tech stocks but it’s taking its time to unfold!
MM remains mildly bullish on the ASX200 into Christmas
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