The ASX drifted mildly lower today in a quiet session at the index level with November options expiry dominating flows. A long list of AGMs headlined by MinRes (MIN), while there were some hits and misses elsewhere with several companies providing trading updates.
The markets keyed off the last hour of yesterdays session and fell away progressively throughout the day, and from a technical perspective, the bullish new high at 8446 that has now potentially failed is at risk of being a false breakout, a bearish pattern.
Tuesday was an excellent session for the ASX200, with over 70% of stocks closing higher as the index surged to new all-time highs. MM has been targeting the 8500-8600 area by Christmas; we’re starting to look too conservative!
It was a mixed but ultimately positive session for the ASX, with ~65% of the main board advancing. From a points perspective, the miners led the way, while the “Big Four Banks” were up and down, with CBA catching the eye falling over $2.
10/11 sectors made gains today with 70% of the main board closing higher, though once again, we’re seeing a narrow band of winners that are driving the index with the ASX200 now only 100pts below its all-time high.
Another mixed but ultimately positive session for the ASX, with IT, Financials & Consumer Discretionary leading the way thanks to new all-time highs for Xero (XRO) $172.94, Comm Bank (CBA) $152.84 & JB Hi-Fi (JBH) $88.37 as valuations get stretched ever higher, while the resources remain holed up in the naughty corner.
A good fight back from the ASX today and it was a deviation from recent trends with the majority of resources stocks finding some interest into the morning lows, the market down ~100pts at it’s worst before recouping 40% of the decline.
A weak open to trade this morning, though the index clawed back the majority of losses to finish only mildly lower, though, it was another day where being in the wrong stocks hurt, headlined by Paladin Energy (PDN) down 28% while gold stocks were also on the nose. Resources are certainly a tough place to be at the moment.
A soft start to the week as the ASX was dragged lower by sharp moves in commodities and energy. We were given clarity on the size and scope of the China stimulus package but there was limited (positive) surprise, leaving markets wanting more.
A strong start for the ASX, buoyed by a solid run in Commodity markets overnight saw the market up over 90pts early on before tapering off somewhat as the day progressed.
The markets keyed off the last hour of yesterdays session and fell away progressively throughout the day, and from a technical perspective, the bullish new high at 8446 that has now potentially failed is at risk of being a false breakout, a bearish pattern.
Tuesday was an excellent session for the ASX200, with over 70% of stocks closing higher as the index surged to new all-time highs. MM has been targeting the 8500-8600 area by Christmas; we’re starting to look too conservative!
It was a mixed but ultimately positive session for the ASX, with ~65% of the main board advancing. From a points perspective, the miners led the way, while the “Big Four Banks” were up and down, with CBA catching the eye falling over $2.
10/11 sectors made gains today with 70% of the main board closing higher, though once again, we’re seeing a narrow band of winners that are driving the index with the ASX200 now only 100pts below its all-time high.
Another mixed but ultimately positive session for the ASX, with IT, Financials & Consumer Discretionary leading the way thanks to new all-time highs for Xero (XRO) $172.94, Comm Bank (CBA) $152.84 & JB Hi-Fi (JBH) $88.37 as valuations get stretched ever higher, while the resources remain holed up in the naughty corner.
A good fight back from the ASX today and it was a deviation from recent trends with the majority of resources stocks finding some interest into the morning lows, the market down ~100pts at it’s worst before recouping 40% of the decline.
A weak open to trade this morning, though the index clawed back the majority of losses to finish only mildly lower, though, it was another day where being in the wrong stocks hurt, headlined by Paladin Energy (PDN) down 28% while gold stocks were also on the nose. Resources are certainly a tough place to be at the moment.
A soft start to the week as the ASX was dragged lower by sharp moves in commodities and energy. We were given clarity on the size and scope of the China stimulus package but there was limited (positive) surprise, leaving markets wanting more.
A strong start for the ASX, buoyed by a solid run in Commodity markets overnight saw the market up over 90pts early on before tapering off somewhat as the day progressed.
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