1/11/22. Evening Report.
Australian stocks surge higher today.
XJO finished up +1.65% today. The RBA Interest Rate was raised +0.25% as expected which the market took as a signal to go higher.
All eleven sectors were up today, the worst (relatively) was Telecommunications +0.5%. All other sectors were up >1%, the best being Materials +2.6%
The XJO is now close to the all important 200-Day MA. The last time it approached this level, the XJO then fell.
If the XJO can get over that hurdle, we should have a bull market on our hands.
No comments:
Post a Comment