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1.Market Observations

15 June 2017 (AFR) – ASX surges for second day as investors beat super deadline

(15 June 2017, AFR, p28, Myriam Robin)

XJO index June 2017 - up 3 percent in 4 days‘The ASX blew back above the 5800 mark on Wednesday, in its second day of strong performances, which one senior trader is attributing to investors cramming funds into superannuation accounts in a bid to avoid regulatory changes coming into effect on July 1. The benchmark S&P/ASX200 index added 1.1 per cent to 5833.9, while the broader All Ordinaries rose 1.0 per cent to 5862.2.’


[About the candlestick chart at right: XJO index (S&P/ASX 200); from 17 May 2017 to 15 June; red dashed line at abotu 5800 indicates resistance; from 7 to 14 June the index was up almost 3 percent in just four trading days. Chart by Robert Brain using BullCharts software.]


About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.


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