When we consider that heavyweights Commonwealth Bank (CBA), CSL Ltd (CSL) and especially BHP Group (BHP) are already trading well below their respective 2021 highs its hard to imagine a significantly deeper correction this side of Christmas. However its important to remember MM is a buyer of dips but the next pullback may not unfold until the ASX200 has already breached 8,000 with the bullish dominant trend remaining in control.
MM remains bullish equities and a buyer of weakness
Add To Hit List
Following a mixed night on Wall Street the local market is poised to open down around -0.3% this morning with the financial stocks likely to weigh on the index following a weak sector performance overseas. As we mentioned earlier MM remains bullish stock looking to buy the next ~5% pullback which could be over in the blink of an eye considering the speed of the current move.
