Ozzie market up very strongly today XJO +1.21%. STW +1.3%.
The ASX gapped up at the opening this morning, then at 11.30 a.m. a benign CPI figure gave the market another boost to the upside. After 2.00 p.m., some selling came into the market which took the top of a robust move.
It would be unusual after such a strong upside move for the market to repeat tomorrow. So some settling can be expected. STW is also at a major horizontal resistance level - another reason to expect a slower day tomorrow.
Nine out of eleven sectors were up today. The only significant fall was in Telecommunications -0.2%. Discretionary was flat +0.04%, but that was largely due to Wesfarmers going ex-dividend today. WES was down -0.41% but that was on the back of a $1 dividend which deflated the price.
Europe is down -0.19% in early trading and Dow Futures are flat -0.02%.
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