History points to strong run for ASX200
Nicholas Forsyth
Market Matters
Over the last 6 years the average range for December is 284 points with extremes at 189 and 344 respectively. The average trading range for these recent Decembers has relatively large extremes but it is very comparable to the typical November retracements of 7% (7.5% for this November). So, if Tuesday's low of 5166 holds then the average target for this December is 5450 with outliers at 5355 and 5510. The ASX200 has a perfect ‘bull’ pattern forming with the ‘abc’ target discussed previously of 5446 tying in nicely with the above (see chart –1). Market Matters remains committed to its view that the S&P500 will see new highs in coming weeks / months, ideally ~5% higher. This supports our short term view of the ASX200 being strong into Christmas. Read our full report for further analysis and our conclusion: (VIEW LINK)
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Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self Managed Super Fund (SMSF). As a member, you will receive twice daily and weekly trading and investment advice focusing primarily on ASX equity investments. Additionally, we share his market positions and provide an ongoing outlook on key stocks and markets that matter. We provide clear share trading and investment buy and sell recommendations with the clear aim of outperforming the market. https://marketmatters.com.au/
Nicholas Forsyth
Director
Market Matters
Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self...
Expertise
No areas of expertise
Nicholas Forsyth
Director
Market Matters
Market Matters is an online investment and share trading advisory service designed for those that want to take their wealth further. We specialise in advice for active share market investors, including those new to the markets or those with a Self...
Expertise
No areas of expertise
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