ASX bear market rally dead or resting?

The Australian dollar is still bid this morning:

Bonds too:

XJO has added back some of yesterday’s losses but its symmetrical tringle shows confusion:

Which it should be given it is trading at 18x forward with unemployment miles above the 1990 recession:

Big Iron is firm:

Big Gas tooL

Big Gold has life:

Big Banks are death:

Big Chint is meh:

We’ve gone nowhere for six weeks now. It has either run out of steam or it’s consolidating for a push higher.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments

    • It’s not new money, it just offsets some of the lost wages that otherwise had to go somewhere?

    • The number of people using JK to buy shares would be statistically insignificant.

      • happy valleyMEMBER

        I wonder whether the ABS could do some numberwang to make it look significant, so that SFM could cut back JK pronto?

  1. Anyone else who already owns NCM going to take up their recent Share Purchase Plan offer?

    Looks good, especially with where gold and NCM prices are right now.

    What do you think?

  2. The90kwbeastMEMBER

    Really hard to pick this market. I personally think the ASX will pullback to ~4,800 and the S&P back to 2,400, before consolidating for the next move higher back to 2,800+ in Q3-Q4.

    It sure is taking time though, I would have expected the consolidation to kick in about now after Q1 earnings releases. But nope! My shorts are hurting!