The ASX200 pushed higher last week to levels not seen since early May and as we mentioned earlier a test of the market’s all-time high is now only a solid 1-2 days away.
- No change, we still believe Australian equities can rally into Christmas but it’s hard to imagine a significant upside move from current levels with all-time highs now only 4.5% away.
- At this stage of the cycle we prefer stocks/sectors that benefit from a weakening $US &/or softening bond yields.
MM remains cautiously bullish on the ASX200 into Christmas
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