How will be the trend of asx 200 for 2020?
The entire Australian stock market is considered bullish when the ASX 200 makes up moves and when the ASX 200 makes down moves, the overall sentiment of the Australian stock market is considered bearish.
Australian Stock Market is one of the most capitalised and well developed Stock Market in the world. The Market capitalisation of the Australian stock market is around A$1.9 trillion. The headquarters of the Australian stock market is situated in Sydney.
I guess it depends on what your time frames are and appetite to buy/sell with the volatility we are seeing. Just look at today, the ASX up 7% (biggest 1 day jump in 40 years) on the back of a A$130bn job support package. This is also against the drops in Asia and the weak opening in EU. From what I see the big ups are on the back of Govt Rescue Packages, but then the gains grind back down. That said, the last week has been good for the ASX after reaching a low of of about 4,500 then today’s close of almost 5,200.
I’m now 0% in equities and have no plans to rush back in. I’ll just keep an eye on things and see how it looks week by week and month by month. I’m not in the “Sharp V” camp. I’d not be surprised to see the ASX 200 bottom around 3,000 but that could be a long way down the track. I’ll wait.