Australian (ASX) Stock Market Forum

The official "ASX is tanking!" panic thread

Jump to new
The selling pressure above 7500 seems strong, with the ASX200 currently unable to hold above the major psych level for a third straight day.

It wouldn't be surprising to see a swing high form here, and the FOMC decision on Wednesday and Big Tech earnings through the week will likely be key for near-term direction. However, what will be interesting is if any pullback is maintained within a longer-term uptrend, or if it results in more sustained selling as risk-off sentiment returns.

All trading involves risk, but it will be worth keeping an eye on how things develop this week and how it plays out in the market.
 
A sharp reversal as sellers dominate afternoon trade, with the ASX200 unable to hold above 7500 yet again.

Not surprising to see some caution ahead of tech earnings and, of course, this week’s FOMC decision. However, the ASX seems to have formed a short-term range between 7450 and just above 7500. All trading carries risk, but it should be interesting to see which direction the index breaks from here.
 
This thread seems to have gone quiet lately but looking through the ASX300, that is actually taking a quick look at a chart of each and every stock in the index, well there's rather a lot of very clear downtrends to be seen.

There are individual stocks doing well and the indices have held up reasonably but my observation is there's plenty of weakness out there. Stock selection is important at the moment, it's not a "rising tide lifts all boats" situation anymore. :2twocents
 
Smurf1976 said:
This thread seems to have gone quiet lately but looking through the ASX300, that is actually taking a quick look at a chart of each and every stock in the index, well there's rather a lot of very clear downtrends to be seen.

There are individual stocks doing well and the indices have held up reasonably but my observation is there's plenty of weakness out there. Stock selection is important at the moment, it's not a "rising tide lifts all boats" situation anymore. :2twocents
Click to expand...
yes , and interestingly during the middle of reporting season ( when one might have expected the market closer to new highs )

but then again several businesses cannot continue to boast of 'post-pandemic ' boosts to recovery
 
Time to revive this.

Interest Rates up
Inflation up
Dollar down
ASX down
And gold doing nothing

Awareness we're getting slammed is hitting home.

As the newspaper hoardings used to say* after Budget night
Beer, ciggies up
Click to expand...

* this was long ago. When this was the distillation of the Budget news, as it affected the working man**
* when newspapers were useful
* when there were hoardings

** when the wage earner was male, received a weekly cash packet, and these were his concerns
 
Dona Ferentes said:
Time to revive this.

Interest Rates up
Inflation up
Dollar down
ASX down
And gold doing nothing

Awareness we're getting slammed is hitting home.

As the newspaper hoardings used to say* after Budget night


* this was long ago. When this was the distillation of the Budget news, as it affected the working man**
* when newspapers were useful
* when there were hoardings

** when the wage earner was male, received a weekly cash packet, and these were his concerns
Click to expand...
Yeah, the 5% plus interest rates in those days hardly ever made the papers, much less the hoardings.
Whingeing millenials.
Mick
 
Too soon?

I also note Bitcoin is in a world of pain. To me that is not a good sign, liquidation going on? Margin calls?

Perhaps my thesis is finally playing out, we'll see.
 
Top