The general market pushing us downYes AZL lost 6 pips to finish...

The general market pushing us down

Yes AZL lost 6 pips to finish on 8.4c. Our volume was similar to yesterday, just around 29m shares traded

ASX Li stocks also decline with the index. Of the 43 stocks that I track, average decline was 4%.

Overnight US Li stocks were also in red. The ETF of LIT lost around 1.25%, but there were a number of other Li stocks that lost over 5%

What next -

Yesterday I had said that although probability is for small gain/loss, DOW loves to do its wild jungle dance and finish in extremes and that was a good possibility. The US Indices did exactly that. After opening very strongly with most indices up by 1% at one stage, there were big falls. I had mentioned about key US data to be released yesterday, and Consumer Confidence data was not positive. There was a general sell off with DOW down 1.5%, SP 500 lost 2% and Nasdaq 3%.

Tonight more data will be released around Consumer Spending and some Corporate Profits. Again US Indices may take a cue from that. Powell is also supposed to speak, and his tones and contents also give a lot of market direction.

General sentiment is still quite poor and bear numbers are more compared to bulls.

So what will happen tonight? Last week we had good gains. This week last 2 days we have had a small decline and a big decline. So probability says that it should be green, even if its a small green. But then all the masters who are playing with indices will think its so predictable. And they like to drive up and down, push up and then short, as it happened yesterday. Tonight, the likelihood of them pushing down is higher than pushing it up. But we have been surprised before. Lets hope they do a reverse tonight and its a surprise on the green side. All the best.