In the absence of any news I think (guess) the market is likely...

In the absence of any news I think (guess) the market is likely to be flattish on open tomorrow with a good chance for CSL to open over $300 due to the fall in the $A dollar against the $US.

But this is just a calculated guess. An opinion. People are skittish at present so anything could happen.

If world leaders behave rationally then the market could continue a slow recovery but even best case I can't see it recovering it's highs for at least a few years. If they behave stupidly (say a China US trade war) we could have a multi-year depression. The world has changed.

But when interest rates are effectively zero any company that can increase profits and dividends year on year is going to be in a lot of portfolios.

I've repositioned a fair bit over the past month and still have little appetite for many market sectors but apart from trimming 20% to invest elsewhere my CSL holdings are still intact and not going anywhere.

This is all pure speculation and not financial advice. When world leaders can make a statement on stimulus or policy and move the market 10% anyone who thinks they know where the market is going with any confidence is kidding themselves and others as well.