Jobs data in the US had quite the negative impact on the markets as the quality of the jobs was lacking, despite the 252,000 jobs added and the reduction in the headline number to 5.6 percent, with the Dow falling 170.5 points on Friday’s session. This sucked all the momentum out of the last few trading sessions and saw the Aussie 200 index pull back some 42.9 points with all sectors in the red except for Utilities, which were up a modest 3.4 points.
How did the Aussie market perform today?
S&P/ASX200 lost 42.9 points or -0.79% on volume of $2.52 billion, closing at 5422.7.
Australian sector watch
Looking over the charts
- The Aussie 200 Index is currently stuck in a trendless zone with plenty of support and resistance levels on both sides, making it tough to identify a clear bullish or bearish phase ahead.
- Friday’s pullback made a notable shooting star candlestick formation at the top of the recent uptrend and today’s doji star is doing little to convince either party, as indecision sets in.
- The recent high on the 29th of December looked positive as it broke above previous highs and then the pullback confirmed a higher low on the 7th of January, but struggling to break above the recent high is something we will need to keep a close eye on.
- Support is currently sitting at 5400-5405 and below that at 5370 with resistance above at 5445, 5460 and above that at 5507.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
13% of stocks are showing oversold levels, 23% are showing overbought levels and 52% of stocks are currently above their long term moving average as of close of trading today. View the image below to better understand overbought and oversold levels.
S&P/ASX 200 Gainers and Losers
Top 5 gainers:
- BDR BEADELL RESOURCES +15.52%
- EVN EVOLUTION MINING +4.37%
- SAI SAI GLOBAL +3.12%
- PBG PACIFIC BRANDS +2.91%
- NCM NEWCREST MINING +2.46%
Top 5 Losers:
- CDD CARDNO -15.45%
- AGO ATLAS IRON -15.09%
- BCI BC IRON -8.45%
- PDN PALADIN ENERGY -6.67%
- SIR SIRIUS RESOURCES NL -5.54%
Please note that these are our initial impressions and that it is important to read all disclaimers on this website when considering the information. If you would like to discuss further please contact:
Ashley Jessen
Director of Communications
Email: ashley_jessen@invast.com.au
Phone: 02 8036 7567