Marcus Today Strategy Wednesday 10th June 2020
The Anatomy of the market rally took on a new profile today - the safe boring stuff (Healthcare, Telecoms, Food, Staples) going up and the recovery sectors going down. Not reacting to that yet although we have gone overweight CSL just in case. Technology holding up today although a few charts rolling over the top and 25% of the ASX 200 is overbought. Dow Futures up 170 as we write, FOMC Meeting going on (unlikely to be anything but supportive) and little on the coronavirus front to concern us other than the market ignoring the rise in cases in Latin America, India and Africa. As long as the UK and US is OK the markets are OK it seems. Bottom line - Happy enough to leave most things along. See the article in the newsletter today about the 'Prevalence of Fear" among the people that don't trade.
