Welcome to the first ‘Closing Bell’ of 2023.
I look forward to analysing key markets around the world for you, using the trading model I have developed over the past few decades.
I was glad to see the back of 2022 because it was nothing but a tough slog from start to finish.
The ASX 200 is currently at exactly the same price it was 18 months ago.
When you are called on to analyse markets week in and week out, it gets pretty tiring when nothing happens!
But like a Coke bottle getting shaken up, when a market treads water for a long time, it can be explosive once the range breaks.
The China reopening story has certainly taken hold early in the year and is on the verge of kicking the ASX 200 into a long-term uptrend, despite the fact the S&P 500 remains in a solid long-term downtrend.
It’s rare for the ASX 200 to diverge so far from US markets, but perhaps that is the theme that will play out this year as the US falters but China steams ahead — spiking demand for our commodities.
Gold has gone from strength to strength since I turned bullish on it a couple of months ago and gave you a few stocks to consider. Hopefully, a few of you managed to jump on them and enjoyed a win over the Christmas break.
In today’s ‘Closing Bell’ video, I outline what I need to see before I will become 100% bullish on Aussie stocks and update you on the gold chart to show you how the long-term picture in gold is getting stronger by the day.
Until next week,
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Murray Dawes,
Editor, Money Weekend
