Looks like could go either way redbacka depending on Europe outcomes with ECB and EU summit. Until then stuck against resistance but seems to be wanting to push up for another leg with technical factors holding in check. VIX also I notice a bit of buying near the lower trend line but still could fall through it pretty easily.
Did anyone read Aussie GDP print? If you annualize last two quarters growth you get +4.8%, real income growth of 1.6% in last quarter. Yet RBA is cutting? Very strange world we are living in at present, they are usually very conservative as central banks go.
Interesting chart from the latest Jeremy Grantham letter. Its an average so not really meant to be a prediction:
Latest letter is below. Short, but always worth a read:
http://www.gmo.com/websitecontent/JGLetter_ShortestLetterEver_3Q11.pdf
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |