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1.Market Observations, 2.share trading

12 Feb 2020 (The Age) – ASX reaches three-week high as risk appetite rises

[COMMENT: Isn’t it so interesting? The sorts of things that make newspaper headlines, and which in reality are not quite so. For the life of me I cannot see how the local market has made a three-week high. With reference to my chart, I can see a new intraday high for the last 2 weeks. Perhaps that in itself is an achievement given the coronavirus.]

(12 February 2020, The Age, Business, p31, By David Scutt and Lucy Battersby)

S&P/ASX 200 (XJO) index - highest high in 2 weeks (Brainy)

S&P/ASX 200 (XJO) index – Highest high in 2 weeks (Brainy)

‘Investors continue to shrug of concerns over the coronavirus with Australia’s market reaching the highest value in three weeks on Tuesday, and taking 24 companies in the S&P/ASX 200 index up to one-year highs. Trading took a ‘risk-on’ attitude with investors snapping up stocks that dipped on profit warnings or poor results, and volatility indices remain at long-term average levels. The continuing buying comes from confidence among traders – even when faced with the rising death toll and spread of the virus – that governments and regulators want to avoid a market crash, according to the equities research team at Macquarie.’

Read more at TheAge.com.au

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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