Australia’s ASX All-Ordinaries Index increased 1.02% this week. It is trading 3.27% above its 200-DMA and is at 52-week highs. The index is in a Confirmed Uptrend.
Symbol: FRM.IL
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index increased 0.01% this week. It is trading 3.03% above its 200-DMA and is at 52-week highs. The index is in a Confirmed Uptrend.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index increased 1.43% this week. The index is trading 2.7% above its 200-DMA and is at a 52-week high. The index is in a Confirmed Uptrend.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index increased 1.86% this week.The index is trading 1.12% above its 200-DMA and 2% off its 52-week high. It was moved to a Confirmed Uptrend this week.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index increased 0.57% this week. The index is trading 1.30% below its 200-DMA and about 4% off its 52-week high. Two distribution days were added this week. The index remains Under Pressure.
Market View
The U.S. market remains in a Confirmed Uptrend. The Nasdaq and S&P 500 bounced back under heavy accumulation, after a minor sell-off to start the week, while the Russell 2000 jumped out of a nine-month consolidation. All indices broke out into all-time highs. Market strength is due to accumulation in Technology (Semis) and Transports and a re emergence into Financials (Banks/Brokers). With the distribution day count falling to two days on the Nasdaq and S&P 500, we maintain a positive outlook as we head into Q4.
By Sector
Strength across the USFL this week was primarily from three sectors — Transportation, Technology, and Financials. Our lone Transportation idea, FDX, is emerging from cup consolidation after recently reporting Q1 results. Within Technology, a better-than-expected outlook from AMAT has contributed to strength in the entire Semiconductor space including MPWR and ON. In addition, software platform provider SSNC is breaking out of a flat base and remains actionable. Improvement in the 10-year brings many Financial stocks, specifically Banks and Brokers, in focus. FRC, MS, SCHW, and ESNT are all showing positive price action and are at or near a pivot point.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index increased 0.08% this week. The index is trading 1.05% below its 200-DMA and about 4% off its 52-week high. One distribution day was added this week. The index remains Under Pressure.
Global Consumer Staple Sector
Investors may feel reluctant to invest in U.S. staples: The sector remains a source of underperformance YTD, up 5.8% versus 11.7% for the S&P, and its short-term momentum over four weeks has been weakening. The Staple index (WS005) crossed below its 200-DMA last week, following a 5.3% decline since the beginning of June.
Thus, we continue to adopt a very selective approach, looking at specific industries/names among staples that offer outstanding growth characteristics. Although, we would avoid exposure to the U.S. food industry that continues to weigh on Staples’ performance, we see a few opportunities among the beverage and cosmetic groups.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index decreased 0.27% this week. It is trading 0.8% below its 200-DMA and about 4% off its 52-week high. One distribution day was added this week. The index remains Under Pressure.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index rose 0.29% this week and breached its 100-DMA. It is currently trading about 4% below 52- week highs. One distribution day was added this week. The index remains in Under Pressure.
