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Aussie 200 Index Gainers & Losers plus Market Snapshot 9 March 2015
US Non-farm payroll data printed at 295,000 versus an expectation of 230,000, which pushed the US Dollar much higher, forcing all other currency pairs to retreat. In addition to the strength of the US Dollar we saw the US indices pull back 1.1 to 1.54 per cent, as analysts and traders firmly believe the continued strength in the job numbers will give a higher probability of the US FED raising the bench market interest rate. The strengthening US Dollar was Gold’s downfall, which saw the shiny asset drop 2.7 per cent on Friday, hitting a low of $1,163.6 per ounce, whilst the Aussie Dollar is definitely sitting at the low end of the current support/resistance range.
How did the Aussie market perform today?
S&P/ASX200 lost 77.6 points or -1.33% on volume of $3.95 billion, closing at 5821.3.
Australian sector watch
Looking over the charts
- The Aussie 200 Index has continued the downward slide and is completing the bearish divergence we’ve been talking about for the last 2 weeks and is now moving into the oversold region on the stochastics.
- We also mentioned that it would be quite healthy to see a retreat in the main index as we had a 6.2% gain in February alone but the reality is we’re going to need a healthier suite of company fundamentals, which has unfortunately been missing from the recent reporting season.
- It will be critical now for our Index to hold the lows around 5750, which happened on the 11th of February and if those levels cannot hold then we could be in for a bigger roller coaster ride to the downside.
- Support is currently sitting at 5800 andbelow that at 5765 with resistance building at 5840-5850 and above that at 5875.
Chart Courtesy of Invast MT4
ASX top 200 stock analysis
29% of stocks are showing oversold levels, 14% are showing overbought levels and 63% 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:
- AWE AWE +6.97%
- QBE QBE INSURANCE GROUP +2.83%
- SDF STEADFAST GROUP +2.59%
- CTX CALTEX AUSTRALIA +1.92%
- MRM MMA OFFSHORE +1.84%
Top 5 Losers:
- BKN BRADKEN -14.03%
- RRL REGIS RESOURCES -12.14%
- BDR BEADELL RESOURCES -8.93%
- SXL SOUTHERN CROSS MEDIA GROUP -7.37%
- EVN EVOLUTION MINING -6.94%
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
Monday, 09 Mar, 2015 / 9:51
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