The local market is looking a little weaker after three weeks of sideways action. Suggestions of fewer rate cuts than expected both in Australia and in the US will test the markets strength.
US markets were a bit up and down overnight. They got their rate cut then Fed chair Powell doused expectations of a further cut later this year.
This graphic from Market Index shows the Nasdaq Index climbing a wall of “worry” factors since the GFC lows. One day it will reach the peak, maybe when we are not looking.
Property mob Stockland is off the highs this week.
Uranium stocks and the URNM ETF were boosted by the Trump administration announcing a deal to build at least $80 billion of new nuclear reactors, part of a broader push to revive domestic nuclear development.
Defence stock Droneshield is moving lower.
Lynas Rare Earths is 30 per cent off the highs.
Former market favourite CSL is down 17 per cent this week after their latest update.
Big miner Rio is moving towards all-time highs.
One analyst’s bullish view of the gold price. If the gold price were to retreat around 22 per cent from the top like back in 2022 that would give a price of around $US3,400, some $US 500 lower than present.
On the other side of the coin this shows when the gold price has a large drop near an exhaustion type top that can be game over for a year or more.
Be wary when greed rules over common sense.
November is generally a good month for the US stock market.
This comes from the Financial Review and lists the different tax rates within the superannuation system.
Disclaimer: The commentary on different charts is for general information purposes only and is not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column. Cheers Charlie.
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