Banana Man is once gain in control in China:
Big Iron is loving it with FMG up 7%:
Big Gas is also up with oil:
Big Gold is stable. I remain a seller on the bold hope that the Trump Administration is at the lows (for now):
Big Bubble is getting caned, especially Terror Bank which appears headed for $70:
Big Spruik is down:
On to Wall St and its Trump jitters tonight. Better hope they’re calm because the ASX is again on the wrong side of its tram tracks:
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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Just looking at the kinda limited Google charts.
The 200DMA is going up by 2-3points a session.
Friday’s was 5700. Today’s should be around 202. Market’s at 207 as I write this.
Tomorrows 200dma should be 204.
In the next few days, we’re either going to bounce strongly, or close below the 200 and get a lot of people fretting.
The three months of perfectly sideways movement (with some jiggling up and down) around 5700 is unprecedented in the last ten years of the ASX 200. I’m fascinated as to which way it eventually go, although I have only a few percent of my assets currently exposed to that silly and unproductive market.
Personally, given the great weight that the banks have in the index, I reckon it’s gonna go down with CrimTerrorLoonyBank.
It’s definitely weird.
Has anyone ever seen a market just… flatline its way into a rising 200dma?
In the past when markets were logical the index for real estate and the index for equities were opposite. so if real eastte was up equities suffered, and vice versa. then 3 odd trillion of super fund money from the USA was mixed with increased leverage from banks and both indexes moved in harmony, up. never before seen. Risk was ushered into a dark corner.
The fair dinkum value for the ASX200 is about 4500.
If you are trading be very careful and use a MA of 20. and dont second guess the indicator WW
I’ve only seen it on illiquid pennies. My Monthly Indi shows this as a pullback then up again….. this will test it’s abilities I think.
Agree with keeping it tight WW!
tradingview.com is better than google charts.
Calls for royal commission might be louder after 4 corners. CBA exposure to bankwest is a disaster.
China has called for moratorium on real estate and an expansion into infrastructure.
Big Iron up.
Link ?
I have a link in Chinese, but won’t help you much…
OJ The wording from Charles is somewhat unclear – is he referring to the Chinese curbing overseas investment (particularly overseas property development and hotels) while encouraging companies to invest in projects related to the “Belt and Road” project. “A moratorium on real estate” could have been internal not necessarily external.
Ah, roads to nowhere replacing ghost cities … sounds bullish, not to mention sustainable
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