After the biggest yawn of a night session who would have expected today's action?!
Technicals have become very bearish. Not that I'm an expert but the wise heads on this forum make for a terrific read. I saw horizontal support broken and the 200 day ema break this afternoon. Low/moderate volume.
GDP figures tomorrow are key - 0.2% QoQ & 1.5% YoY would meet expectations. They are very sluggish numbers. And what is an increase in minimum wages going do? Increase unemployment and decrease investment. I won't harp on about the bank tax again. Whilst the rest of the world has government driving their stock markets higher ....
Looking for 5,400 - 5,500 to go long, could we get there before earnings season? Not sure we'll get through ~5,600 too easily
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Last
8,668.2 |
Change
-89.000(1.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,757.1 | 8,757.1 | 8,648.4 |
| XJO (ASX) Chart |