Afternoon trading November 23

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

Half-time wrap:

The share market slipped to its lowest in more than a week as a rebound in treasury yields and declines in several commodities offset positive US leads.

The ASX 200 declined 26 points or 0.37% by mid-session. Resource stocks were the biggest drag following overnight pressure on crude, gold, industrial metals, lithium and uranium. Just two sectors advanced and both by barely 0.2%: tech and communications.

Treasury yields rallied following a hawkish speech from RBA Governor Michele Bullock last night. Bullock told economists that strong demand for services was fuelling inflation. The yield on 10-year Australian government bonds firmed almost four basis points this morning as bond markets factored in the risk of another rate hike.

US stocks shut down for Thanksgiving near their highest since early August. The S&P 500 gained 0.41% on light volume ahead of a market holiday tonight and a half-session on Friday.


Personal trading: Couldn't catch a cold for much of the morning. Was at the right retrace level for several good prospects but didn't get a hit. Eventually got something from ERW despite missing the low. Also took AX8.