What are people's views on how the Aussie market is tracking above 5000? Personally I believe we are in for at least a small correction, as momentum is waning. I think the world indices are ahead of themselves. China's poor PMI numbers out today may be the catalyst. I believe the 61.8% Fib around 5018 is key for today and the direction over the next few weeks. The risk to this is that China announce stimulus measures and/or we see a rate cut in a few weeks (which I don't think is likely after the CPI numbers).
Looking for contrary views/similar views?
xjo correction coming?
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