Bearish Divergence - Not ideal leading into Reporting Season
We have potential reversal (Bearish divergence) in the all ords. Just as we enter the reporting season. (Financials + Materials make up close to 50% of index) Materials have already turned bearish and with banks to report soon for the first time since the royal commission findings it looks like we are headed lower. I'm thinking we might have better opportunities to buy in later this year especially for super funds with longer hold times.
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