Australian inflation increased by 0.9% (f/c 0.7%) over the fourth quarter of 2020, taking the annual rate to 0.9% as well.Rising inflation limits opportunities for the RBA, and could support the Australian dollar.
As discussed previously inflation is coming and destroys the BNPL business model. Lumber a "canary in the mineshaft " for inflation keeps gapping up and other commodities are in string uptrends.
The Nasdaq is heavily weighted to the FAANGS and they all report imminently. Tesla also is a driver of the overall market
Apple Microsoft Amazon Tesla, Facebook Google NVIDIA ,PayPal, Netflix account for over 50 percent of the index and once they have reported and buy the rumour sell the news selling starts the waterfall effect could result in a 23 to 38 percent fall in the Nasdaq.
Zip with its high beta colleration could fall 50 percent in this scenario
The Zip chart remains bullish but if I was long I would be nervous holding overnight.
I believe we will see a market top of we see Tesla as a $1000 stock which could propel the Nasdaq to $14000.
Tesla is now valued at something like $ 1,300,000 per car produced compared to GM $9000.
Australian inflation increased by 0.9% (f/c 0.7%) over the...
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Last
$1.78 |
Change
0.035(2.01%) |
Mkt cap ! $1.966B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.80 | $1.76 | $2.736M | 1.541M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 28850 | $1.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.79 | 38614 | 10 |
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| Last trade - 10.12am 09/07/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |