Will Santa Claus leave us standing in the aisle
Will Santa Claus leave us standing in the aisle? Weakness in the market over the past week may be casting doubts about this year's Santa Rally. The good news is that nothing fundamental has changed to sway my expectations for the end-of-year uplift in equities. The ASX 200 may have another 50-60 points to fall before finding support, although I don't think the index will break above resistance (just above 5600) by end January. Some of the factors buoying sentiment in coming weeks: (1) Better than expected Black Friday sales in the US following strong Oct retail sales figures; (2) Fall in petrol prices, which acts like a tax break; (3) Meaningful expansion to ECB's quantitative easing program and Chinese stimulus; (4) modest support for commodity prices.
I am with Australia's leading small caps investor relations and media relations firm, Media & Capital Partners. I worked as a small caps analyst and journalist prior to MC Partners. Views are my own and should not be regarded as advice or...
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