Welcome to Momentum Monday.
I’ve said it before, the more consecutive down weeks we face, the more likely we will see a positive week. And after the 3 months to the end of October - we were due. More in a moment.
Also despite the Melbourne Cup, the race that stops the nation…. Literally for two days… we will be open and support will continue as per normal.
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This week’s content is as follows:
Broader market sentiment
Member corner
Stocks in the “Shine Zone” (including changes)
Buses pulling out of the station (volume + price movers)
52 week high screen (including changes)
Also as a final reminder, the recent research area has changed its appearance. However if you wish to see the full list of articles we have written then go to the “Discuss” area and select Aus/NZ blogs
A reminder that you don’t have to read all this contribution. Simply scroll to the area of interest.
Broader Market Sentiment
We look at the direction of both the US and ASX markets to gain an understanding of the broader sentiment at the minute. It is important to stress here that I DO NOT use this to time my entry or exit out of stocks. I prefer to use the individual charts of stocks to do that. However I find it useful in helping us determine how aggressive/cautious traders should be in their trading. In short the more positive the broader market is the more risks you can take and vice versa.
US / S&P500
Last week I mentioned we were right on structural support.
This week, five days of consecutive gains would suggest the market also noticed, rising 5.8%, the best week since November last year. The price action actually took us back above where we were two weeks ago.
