Powell spooking up resource punters
Yes AZL lost 1 pip to finish on 8.8c. Our volume was comparatively lower, just over 21m shares traded.
ASX Li stocks were very tentative. Of the 54 stocks that I track, there was no gain or loss, though roughly half the stocks had small declines.
Overnight US Li stocks did better than us. Most stocks were in green but not a big one, and some finished in red.
What next -
Yesterday I had mentioned that US indices may give us a big green, average around 1.5%. Once again what I thought came out like that. ASX too was in big green, but dropped a good portion towards the end, finish around 0.8%, roughly half of US. But resources that I follow, both in US and here were not buying that. They were very tentative, most likely waiting to see what Powell speaks.
Regarding the indicators that I follow, SP 500 made a good gain and is now around 4200. Just 3% away from magical figure of 4325 - 200 day moving average - a cross and hold of this may confirm a bull run. Other indicator, Volatility index VIX is also tracking well. It fell from 22.82 to 21.78 - another decent fall, but above the level we want which is 20.
Personally, nothing major for today, just rotating some stocks and am still holding. There is a big risk if Powell speaks something which the market does not like, but I decided to take some risk. Mainly because SP 500 is playing till now as was expected, a fall of 1 to 3% from last Friday, and then recovering. But all this may not count when an incident is involved - Powell speaking.
So what will happen tonight? US Futures in slight red, as may be expected after a big green. Asian markets largely green, but subdued, average half percent. Volatility index at 21.78 and trending down for last 2 days. Cryptos are in slight worry. after making some good gains yesterday, they have given up those gains. Bitcoin hovering around 21.5k - so very tentative as can be expected. Powell to speak at 10AM, market opens at 930. There is a good chance markets will open tentative, likely a small red. After that its a toss. We can only hope. Will Powell at least stay neutral if not positive? Lets hope so. enjoy your weekend and all the best.
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Last
1.5¢ |
Change
-0.001(6.25%) |
Mkt cap ! $67.10M |
Open | High | Low | Value | Volume |
1.6¢ | 1.6¢ | 1.5¢ | $351 | 22.50K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 2988113 | 1.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.6¢ | 3869353 | 19 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 2988113 | 0.015 |
38 | 7693551 | 0.014 |
18 | 4099282 | 0.013 |
9 | 3179151 | 0.012 |
8 | 5462090 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.016 | 3869353 | 19 |
0.017 | 2767466 | 16 |
0.018 | 565796 | 7 |
0.019 | 1794989 | 5 |
0.020 | 1814125 | 10 |
Last trade - 10.44am 18/09/2024 (20 minute delay) ? |
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