Chart, page-16365

Quick one for today.

I do agree with others that this period requires caution and the current swings at the index levels have been quite deep, however I don't recall markets dying out during a rate rise cycle. Their price multiples are just repriced to reflect the prevailing effective rate. Markets more often than not roll over at the transition into to a rate cut cycle.

This turn may take a good quarter to base for US markets but at the individual stock level watch what happens during the counter trend moves at index level vs BRN for example. Impulses up trends trump corrective index phases.

This is what I expect to play out on the DOW.


ASX will likely put in a base over the next 2 week because the bulk of the time has already been chewed up since last Aug.


Plan what you want to do with BRN. Not here to mislead or talk anyone out of what they decide for themselves. But a plan is a must as it takes out as much of the emotional reaction to price as possible.

MK.