With the ASX200 heading lower and bulls panicking..its a good time to take a look at each sector on the ASX!!
The ASX spent another session moving lower and I expect that the Bears are far from finished. After the RBAs surprise rate rise, the ASX200 is on the ropes and moving down into major support.
Taking a look at the major sectors (technical charts shown below), the outlook does not look too encouraging. With more rate rises set to come and a housing market that is slowing, growth may be hard to come by for long term portfolios.
Many of the sectors are heading lower from highs, suggesting more to come, and many are already extended. With ETFs being a major retail tool for investing, we could see selling start across the board if traders get nervous and take more risk off the table.
Below, I have marked the general levels of interest for sectors and a broad trend comment…all on the daily timeframe.
Feel free to email any questions that you may have to firstname.lastname@example.org
Hope you enjoy
PS Take a look at the YouTube Channel Here and remember to subscribe if you have not already!!
Join our DISCORD channel to follow The 5 Min Trading Day strategy and for more great trades while honing your trading with our community of both new and experienced traders!! Simply click https://discord.gg/4WhySawSvm
You can learn more and join our community by visiting https://www.tradethestructure.com and make sure to register for a FREE MEMBER ACCOUNT for great educational material and trade ideas.
Disclaimer: the contents of this post are presented for informational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities. Investments in financial products are subject to market risk. Some financial products, such as currency exchange, futures, contracts for difference, options and warrants are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. Trading currency exchange, futures, contracts for difference, stocks, shares, options and warrants on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in currency exchange, futures, contracts for difference, options, stocks, shares and warrants you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with currency exchange, futures, contracts for difference, options, stocks, shares and warrants trading, and seek advice from an independent financial advisor if you have any doubts.