While a +5pt gain at the index level implies a lacklustre session, there was a lot happening under the hood. It was a major turnaround from early weakness which had the market hit a 7440 low before rallying unabated to close at 7528, a +88pt turnaround as the wall of money buys weakness.
That is very typical of a strong market and while some will list all the entertaining reasons for a market top, the trend remains up and that’s all we need to focus on for now, plus of course backing the right ponies in the race. The ASX 200 finished up +5pts / +0.07% to 7528
Tech & Retailers did best while a delay in the DD timeline for the Santos (STO) & Oil Search (OSH) tie up saw the energy sector lag
Materials down 1% however FMG down ~11% didn’t help, a drop of $2.28 […]
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