The ASX200 proved very resilient on Wednesday managing to largely ignore loses on overseas bourses , we finally closed down less than 0.3% although only 20% of stocks managed to close in positive territory. The influential Banking & Resources Sectors are finding some support into the recent weakness and these are 2 areas of the market which will need to perform if the bulls like ourselves are to be rewarded with a classic Christmas Rally. If we consider how far some of these big names have fallen in recent months it’s not...
Tuesday saw the ASX200 rally strongly into lunch only to fail badly in the last hour of trade after the Moderna CEO reminded us all that there remains significant unknowns / risks with the Omicron COVID strain – if the ASX can both rally & fall around 100-points in one session I feel like we should all brace ourselves for a volatile run into Christmas. The market has remained in a fairly tight trading range for the last 6-months although it certainly doesn’t feel like it this morning.
The ASX200 felt strong yesterday even though it closed down over 0.5%, the local index managed to recoup half of the days early losses with 35% of stocks finally to closing in positive territory while the IT and Resources Sectors both closed up on the day - only 2 stocks fell by over 5% which illustrated the lack of aggressive selling, unlike Friday! However it’s one thing for the market to find support into weakness but we need a definite 360 about-face in market sentiment to make another assault on new highs, now over 5% away.
Omicron has been the subject on many people’s minds over the last few days, surely not another ruined Christmas etc. The social impact of lockdowns over the last few years has been simply awful and one comment I’ve heard numerous times over this weekend has been “I’m not sure I can cope with another lockdown” . Europe was already struggling under yet another winter wave of COVID and now we have a new variant thrown into the mix which has already described as “cause for concern”, although at this stage it does appear markets...
The ASX200 ground out a small 0.1% gain on Thursday leaving us marginally higher for both the week and month, it’s becoming boring on the index level but my “Gut Feeling” is movement is looming on the horizon. The Banks continue to weigh on the index but a strong 2.4% bounce by the IT Sector managed to keep us in positive territory – its been a long while since both of the value & growth names rose or fell together as sector rotation continues to dominate proceedings. December arrives in less than week and the bullish statistics keep on rolling e.g. over the last 40-years...
On Wednesday the ASX200 continued to rotate around the 7400 area, it’s acted like a strong magnet since the last half of October, so far this month the markets remained in a tight 168-point band – with only 4 trading days remaining the local markets delivered a monthly range well under half of the calendar years average, even after soaring bond yields and inflation have shaken the confidence of many investors. If I had known at the start of the month where bond yields were today I would have called the index 5% lower, either I’m too reactive or the stock market remains...
The ASX200 sprang back to life yesterday with the Banks and heavyweight iron ore names combining to send the index up 0.8%, finally closing right back in the middle of the last 5-weeks trading range. Complacency can be the enemy of a successful investor and it’s our opinion that after consolidating for a very similar 3-month period to this time last year the likelihood of a breakout has increased dramatically i.e. don’t assume that the current market slumber will continue:
The ASX200 tumbled 0.6% yesterday as the banks led the broad market lower, there were a few bright pockets amongst the 30% of stocks which managed to close higher with the lithium and nickel names the standouts for me. Iron ore names are slowly getting up from the canvas on news of China easing but the tourism stocks came under distinct pressure as a number of European countries languish under an ever worsening COVID 4th wave plus yesterday evening saw Air New Zealand being been forced to cancel 1000 trans-Tasman flights due to border restrictions...
Many global stocks continue to hover just below recently posted all-time highs e.g. S&P500 0.4%, UK FTSE 2.4%, German DAX 0.8% while the ASX200 is set to open this morning 3.7% below its August high. You have to cast your eyes across Asia before you find markets that make us look good from a comparative performance perspective but when you look under the hood of the ASX200 its easy to comprehend why we’ve struggled against some of our western peers i.e. over the last few months we’ve seen market heavyweights BHP Group (BHP), Westpac (WBC)...
The ASX200 managed to bounce yesterday even after a negative lead from Wall Street and ongoing weakness from the local Banking Sector with CBA already 11.5% below last weeks high, another 5% and it will become interesting to MM. There were no particular standouts on the sector front and only 3 stocks moved by over 5%, the market still remains comfortable in its 7300 – 7480 trading range and while our preference is a breakout to the upside it has been a touch frustrating how the ASX has ignored...
Tuesday saw the ASX200 rally strongly into lunch only to fail badly in the last hour of trade after the Moderna CEO reminded us all that there remains significant unknowns / risks with the Omicron COVID strain – if the ASX can both rally & fall around 100-points in one session I feel like we should all brace ourselves for a volatile run into Christmas. The market has remained in a fairly tight trading range for the last 6-months although it certainly doesn’t feel like it this morning.
The ASX200 felt strong yesterday even though it closed down over 0.5%, the local index managed to recoup half of the days early losses with 35% of stocks finally to closing in positive territory while the IT and Resources Sectors both closed up on the day - only 2 stocks fell by over 5% which illustrated the lack of aggressive selling, unlike Friday! However it’s one thing for the market to find support into weakness but we need a definite 360 about-face in market sentiment to make another assault on new highs, now over 5% away.
Omicron has been the subject on many people’s minds over the last few days, surely not another ruined Christmas etc. The social impact of lockdowns over the last few years has been simply awful and one comment I’ve heard numerous times over this weekend has been “I’m not sure I can cope with another lockdown” . Europe was already struggling under yet another winter wave of COVID and now we have a new variant thrown into the mix which has already described as “cause for concern”, although at this stage it does appear markets...
The ASX200 ground out a small 0.1% gain on Thursday leaving us marginally higher for both the week and month, it’s becoming boring on the index level but my “Gut Feeling” is movement is looming on the horizon. The Banks continue to weigh on the index but a strong 2.4% bounce by the IT Sector managed to keep us in positive territory – its been a long while since both of the value & growth names rose or fell together as sector rotation continues to dominate proceedings. December arrives in less than week and the bullish statistics keep on rolling e.g. over the last 40-years...
On Wednesday the ASX200 continued to rotate around the 7400 area, it’s acted like a strong magnet since the last half of October, so far this month the markets remained in a tight 168-point band – with only 4 trading days remaining the local markets delivered a monthly range well under half of the calendar years average, even after soaring bond yields and inflation have shaken the confidence of many investors. If I had known at the start of the month where bond yields were today I would have called the index 5% lower, either I’m too reactive or the stock market remains...
The ASX200 sprang back to life yesterday with the Banks and heavyweight iron ore names combining to send the index up 0.8%, finally closing right back in the middle of the last 5-weeks trading range. Complacency can be the enemy of a successful investor and it’s our opinion that after consolidating for a very similar 3-month period to this time last year the likelihood of a breakout has increased dramatically i.e. don’t assume that the current market slumber will continue:
The ASX200 tumbled 0.6% yesterday as the banks led the broad market lower, there were a few bright pockets amongst the 30% of stocks which managed to close higher with the lithium and nickel names the standouts for me. Iron ore names are slowly getting up from the canvas on news of China easing but the tourism stocks came under distinct pressure as a number of European countries languish under an ever worsening COVID 4th wave plus yesterday evening saw Air New Zealand being been forced to cancel 1000 trans-Tasman flights due to border restrictions...
Many global stocks continue to hover just below recently posted all-time highs e.g. S&P500 0.4%, UK FTSE 2.4%, German DAX 0.8% while the ASX200 is set to open this morning 3.7% below its August high. You have to cast your eyes across Asia before you find markets that make us look good from a comparative performance perspective but when you look under the hood of the ASX200 its easy to comprehend why we’ve struggled against some of our western peers i.e. over the last few months we’ve seen market heavyweights BHP Group (BHP), Westpac (WBC)...
The ASX200 managed to bounce yesterday even after a negative lead from Wall Street and ongoing weakness from the local Banking Sector with CBA already 11.5% below last weeks high, another 5% and it will become interesting to MM. There were no particular standouts on the sector front and only 3 stocks moved by over 5%, the market still remains comfortable in its 7300 – 7480 trading range and while our preference is a breakout to the upside it has been a touch frustrating how the ASX has ignored...
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