weekly finish above last years spike high of 1560 is positive imo
close above last weeks closing price 1553 and opening price of 1551 Monday also quite positive
Aud price for local miners also positive but last few days it appears a lot of disappointment is reflected in local share prices which seemed to see sell side right up to closing bell Friday , certainly was a hard hold- maybe some covering Monday and buy backs of positions in locals which seemed to reflect vastly lower prices coming-
USA data was way below expectations but the surveys still managed a positive number in the gig economy- headline rate steady despite population growth- this sort of number is expected in Jan not dec when the survey sample is adjusted- but still 145 k in USA- lots of other trade data not great imo
markets globally all tapping some records- thanks fed and twitter
trailing pe of s and p 500 is today 24.54!
Markets have raced
Question is, how
Much does eps have to grow on average across the s and p 500 to bring down the average to 20 or
Down to the mean to justify these prices being fueled imo by the feds non qe program which has the index at these levels?
or
how Much more money do they need to lend at rates lower than market to support the leverage in the money markets to help
Continue holding or pushing these levels?
simple
Calculation which paints an interesting picture - imo- clearly a lot of growth in eps is expected across the entire broader sp500
anyhoooooooo
lucky there is no inflation in oz- lol- cafes- food, transport- health insurance- rates- water- education ........
