ASX Shares Daily – December 13

By Chris Becker

A scratch day for the ASX200 but also most other markets in Asia – except Japan.  Check out a full roundup by sector including some the top 8 stocks and some technical analysis below.

The Nikkei 225 had a very good day as the Yen weakened appreciably against the dollar – not what you expect after QE4 or 5 or QEWTF:

The Shanghai Comp has slipped again, the Hang Seng – the main risk proxy to watch – has not moved.

The Aussie dollar looks set to reach 1.06 on USD weakness – time to short soon perhaps given it hasn’t breached this level in quite some time:

The US Dollar Index is now below the 80 point key level – maybe QEInfinity will work?

Not according to the gold bugs – the shiny metal is just above its 200 day moving average with a lot of resistance overhead:


Australian Stocks

Interesting rotations in the sectors today. Staples were sold, discretionary bid on Xmas cheer, financials steady, materials rallying once more, with the top ASX8 stock (top 4 miners and 4 banks) Rio Tinto (RIO) up nearly 1%:

With materials heading to the moon, why isnt the ASX200 building momentum from here? Its the overvalued, overbought, overprotected banks is what…

I can feel a small retracement coming on in the next few days. What makes this feeling worse is I’m going on holidays soon – and markets always fall or exploded to the upside when that happens…so watch out.

This free daily update should be read alongside Live Trades articles, published every morning at Macro Investor, and placed in context with the longer trends and macro drivers within the overall technical picture,  where former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning. Chris Becker is an investment strategist at Macro Investor, Australia’s leading independent investment newsletter covering stocks, trades, property and fixed interest.  A free 21-day trial is available at the site. You can follow Chris on Twitter.

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  1. Ruh roh. Volatility is coming. Any suggestions on what to short aud against? I read that aud/krone is the play somewhere. No idea why.

  2. “What makes this feeling worse is I’m going on holidays soon – and markets always fall or exploded to the upside when that happens”

    Can this be coincidence? I doubt it.