Sentiment: Turned negative in forums and in the media. But it feels strange that overseas markets are booming while we are going backwards. It seems to me that rises overseas should stop the bottom falling out of our market. But if overseas turns bad, then it will be even worse here.
Iron ore: Still hovering around this year's low. But surely BHP and co assumed that that was likely.
Oil: Crude might be setting $50 as a ceiling. Price usually picks up in August, but that's a fair way off.
CBA: Fell through support on Monday, but only just. So it's at the top of the range that held much of 2016. it is also below all three of my moving averages. But it could turn around and this weekly chart will merely have a tiny tail going through support:
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Last
8,561.8 |
Change
-68.500(0.79%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |