The Match Out: ASX loses steam as reporting starts to wind down
The ASX lost some steam today and as we penned this morning, we believe the market is starting to feel tired after its 25% advance from the April lows.
The last 1-2 years have been all about the “strong getting stronger” and vice versa but like all good trends, long and short, they eventually turn &/or simply run out of steam. However, we believe it’s very important with today’s theme, which we have touched on previously, to adopt the simple adage of “if in doubt stay out” as not all companies will turn the corner if bond yields for example move lower, some are simply in need of serious repair.
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