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c791517

797 Posts.

18/07/17

20:06

Post #: 25940313
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Originally posted by exCorporate ↑

Gee it's gone quiet here today.

AUD rising is not good for the ASX. All those US earnings aren't worth so much.

Sounds like the banks capital requirements announcement is very very imminent now. Markets like certainty, so given the sell off today (and previous couple of months) there could be some "buy the fact". I won't be banking on it though.

Commodities have stablised. Iron ore and oil both off their lows but far from bullish.

US still on their highs. Forward P/E's are almost 20% higher than long term averages. Upside is surely limited. I think our correlation to the S&P 500 will become much closer when they come off 10%-20%. Question is how much higher until that happens.

China data seemed good on the surface but when they start changing the way they calculate GDP ... I don't know how you can rely on their data. Ignore.

Another bounce off the high 5600s? Maybe.

I'm still backing the downside.

Expand

Always interesting when USA graphs start at bottom left finish top right
Aust start top left and finish bottom right.
Total opposite

XJO Value at posting: 5,703.6
1 Upvote

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