US Indices diverge, but the NASDAQ fell hard overnight, a sign? Overnight, the Dow rallied 44 points, while the NASDAQ fell 39points; no doubt this is classic...
Nicholas Forsyth
Market Matters
US Indices diverge, but the NASDAQ fell hard overnight, a sign? Overnight, the Dow rallied 44 points, while the NASDAQ fell 39points; no doubt this is classic divergence. One of my favourite signals is that the NASDAQ and ASX200 often lead changes in trend. I remain short term bearish the ASX200; targeting sub 5,400, but if the US indices are now about to correct, we may fall to much lower levels of support. The local market over the last 3 years has seen almost all the heavy lifting by the yield play however, as we have witnessed over the last few weeks, when people get concerned over interest rates going forward, this can unwind very quickly. Basically, investors are reducing their appetite for risk and generally only prepared to buy/hold the large-cap stocks. If we get this anticipated pullback in the NASDAQ, our tech.stocks are likely to follow creating some excellent opportunities. (VIEW LINK)
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
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
Comments
Comments
Sign In or Join Free to comment