Daytrading July 12 afternoon

Thanks Oscar and morning crew. It's school holidays here in NSW and I've been nominated to spend some quality time with the kids. Ahem. Volunteer please to launch the arvo thread? Keyser? You able to do the honours?


Half-time round-up:

Shares notched a one-month high this morning as a post-Brexit global rebound continued through Asia, aided by plans for fresh Japanese stimulus measures.

At 1pm EST the ASX 200 was 49 points or 0.9% higher at 5386 as the financials sector rallied 1.5% to its highest level since the UK voted to exit the European Union. Also strong were consumer discretionary +1.5%, materials +1.3% and metals & mining +1.2%. The gold sector eased 0.7%.

Asian markets extended yesterday's gains after Japanese Prime Minister Shinzo Abe committed to further measures to fire up the economy. The Nikkei was last up 2.6%, China's Shanghai Composite 0.37% and Hong Kong's Hang Seng 0.76%. Dow futures were ahead 14 points or 0.08%.

“Strong US momentum, the allure of continued low interest rates, some leadership certainty in the UK and a bold action plan in Japan is going head to head with caution following Brexit,” Cameron Bagrie, chief economist at ANZ Bank New Zealand, told Bloomberg. “The former held the upper hand overnight, and indeed a number of nights of late. Will it last? We suspect not. We don’t see why the latest package in Japan will work more miraculously than previous ones.”

Crude oil futures bounced 22 cents or 0.5% this morning to US$44.98 a barrel. Gold futures were 20 cent or 0.01% firmer at US$1,356.80 an ounce. The dollar was buying 75.67 US cents.


The XJO has broken its short-term downtrend is back at long-term overhead resistance. Couldn't get through 5400 with several attempts in May/June. Can we do it this time? A new quarterly US earnings season got underway this morning, which as I've mentioned in the past tend to be market-supportive. Based on a positive lead from Wall Street, I think there's a good chance we'll blow through resistance, although probably not at first attempt. Let's go, XJO. Trading: had a good day yesterday, but struggled for ideas today. Small speculators in QBL and BSE.