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Wall St down 710 - our market opened down 109 then rallied 50 points. A one day wobble or the start of a downtrend? We'' find out in the next few days. Looking like a wobble at the moment. No sell signal on the ASX 200 (too early) but there was one of the S&P 500 overnight. See the charts in the Strategy section today. Today we taught Members about the Collins Class Rule and covered a few of the deteriorating headlines. We also re-published the stocks and sectors that sold-off in the last correction and then bounced in the recovery rally - it is a good guide to where the risk lies in the market if we do have another virus-related sell-down. Meanwhile the travel trade is over. Qantas parking A380s for three years and telling us it doesn't anticipate international activity for a year at least. Energy trade also over for now.
Wall St down 710 - our market opened down 109 then rallied 50 points. A one day wobble or the start of a downtrend? We'' find out in the next few days. Looking like a wobble at the moment. No sell signal on the ASX 200 (too early) but there was one of the S&P 500 overnight. See the charts in the Strategy section today. Today we taught Members about the Collins Class Rule and covered a few of the deteriorating headlines. We also re-published the stocks and sectors that sold-off in the last correction and then bounced in the recovery rally - it is a good guide to where the risk lies in the market if we do have another virus-related sell-down. Meanwhile the travel trade is over. Qantas parking A380s for three years and telling us it doesn't anticipate international activity for a year at least. Energy trade also over for now.
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