The ASX200 followed Commonwealth Bank (CBA) higher into lunch as the markets largest company joined the $100 club, the stock listed back in 1991 at $5.40 illustrating the power of long-term compound investing when you back the correct business.
the ASX200 appears to have quickly put last weeks “May jitters” behind it as the index rallies towards both its 2021 & all-time high. Another day of Commonwealth Bank (CBA) scaling fresh levels certainly helped but the buying was broad based with 75% of stocks closing positive although I did feel it was more a lack of sellers that was the main market driver but either way the result’s the same, the post GFC & COVID bull markets remain intact.
The ASX200 shrugged off some initial morning jitters to commence the week on the front foot rising +0.2% with strength in the banking sector more than offsetting losses in the heavyweight miners e.g. Commonwealth Bank (CBA) and National Australia Bank (NAB) each rallied +0.7%, while OZ Minerals (OZL) and Fortescue Metals (FMG) both fell by over -4%.
After over 3-weeks, May has delivered very little on the index level with the ASX200 up just 5-points month to-date, coincidentally the exact amount the SPI futures are calling the index to fall on the open this morning.
Thursday saw the ASX200 recover over 60% of the previous sessions losses with the banks, real estate and tech stocks leading the broad advance, 80% of the index rallied with only the resources weighing on the gains.
Yesterday saw the ASX200 tumble almost 2% as the “buy the dip” early morning attempt was thumped back into place by fairly aggressive selling across the board, 90% of stocks fell while the futures saw their volume double as worries clearly surfaced through investors’ minds.
The ASX200 bounced strongly yesterday gaining +0.6% as the choppy rotation continues, Tuesday was all about the resources from energy to gold and of course iron ore which continues to swing around with almost as much volatility as Bitcoin!
Yesterday saw the ASX200 fail to hold onto most of its early gains as the “sell the bounce” mentality continues to surface, the local market ended the day on its session lows up just 0.1% with winners and losers pretty evenly matched.
The ASX200 endured some May wobbles last week falling almost 3% by Thursday afternoon, subscribers should remain conscious that the average decline for May & June combined over the last decade is -4.8% which by definition means at its worst the intra-month pullback would have been deeper e.g. last year we saw a -7.7% retracement even while the market was enjoying a phenomenal post COVID recovery.
Yesterday saw the ASX200 fall another 62-points finally breaching the psychological 7000 area in the late afternoon, selling was fairly broad based with well over 60% of stocks down on the day although gains in the heavyweight banking & healthcare sectors stymied the losses.
the ASX200 appears to have quickly put last weeks “May jitters” behind it as the index rallies towards both its 2021 & all-time high. Another day of Commonwealth Bank (CBA) scaling fresh levels certainly helped but the buying was broad based with 75% of stocks closing positive although I did feel it was more a lack of sellers that was the main market driver but either way the result’s the same, the post GFC & COVID bull markets remain intact.
The ASX200 shrugged off some initial morning jitters to commence the week on the front foot rising +0.2% with strength in the banking sector more than offsetting losses in the heavyweight miners e.g. Commonwealth Bank (CBA) and National Australia Bank (NAB) each rallied +0.7%, while OZ Minerals (OZL) and Fortescue Metals (FMG) both fell by over -4%.
After over 3-weeks, May has delivered very little on the index level with the ASX200 up just 5-points month to-date, coincidentally the exact amount the SPI futures are calling the index to fall on the open this morning.
Thursday saw the ASX200 recover over 60% of the previous sessions losses with the banks, real estate and tech stocks leading the broad advance, 80% of the index rallied with only the resources weighing on the gains.
Yesterday saw the ASX200 tumble almost 2% as the “buy the dip” early morning attempt was thumped back into place by fairly aggressive selling across the board, 90% of stocks fell while the futures saw their volume double as worries clearly surfaced through investors’ minds.
The ASX200 bounced strongly yesterday gaining +0.6% as the choppy rotation continues, Tuesday was all about the resources from energy to gold and of course iron ore which continues to swing around with almost as much volatility as Bitcoin!
Yesterday saw the ASX200 fail to hold onto most of its early gains as the “sell the bounce” mentality continues to surface, the local market ended the day on its session lows up just 0.1% with winners and losers pretty evenly matched.
The ASX200 endured some May wobbles last week falling almost 3% by Thursday afternoon, subscribers should remain conscious that the average decline for May & June combined over the last decade is -4.8% which by definition means at its worst the intra-month pullback would have been deeper e.g. last year we saw a -7.7% retracement even while the market was enjoying a phenomenal post COVID recovery.
Yesterday saw the ASX200 fall another 62-points finally breaching the psychological 7000 area in the late afternoon, selling was fairly broad based with well over 60% of stocks down on the day although gains in the heavyweight banking & healthcare sectors stymied the losses.
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