As a result of overnight action, the S&P 200 Australian index went as low as 3770. There was a rally toward the end of the session in the US so the Australian market opened at around 4000. Continuing upward movement is encouraging.
The current lows seem to hold on for now. I don’t think technical analysis is of any use at the moment but it is interesting to follow through how different news affect the market price movement.
With all the expectations of recession there can hardly be any good news. That would be a logical conclusion. The practical issues that people in general will not be interested in stock market because they will have other issues they will have to take care about. Finding job, keeping it, and paying off other debts seem to be the focus for (too) many.
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