Australian stocks have opened weaker

Picture: Getty Images

Australian stocks have opened flat on Friday morning, pausing for breath after Thursday’s 1.2% rally.

First, the early scoreboard:

  • ASX 200 5488.70 , -11.54 , -0.21%
  • All Ords 5549.80 , -10.56 , -0.19%
  • AUD/USD 0.7413 , -0.0001 , -0.01%

And how individual sectors are faring:

  • A-REITS -0.75%
  • Consumer Discretionary -0.21%
  • Consumer Staples -0.20%
  • Energy 0.48%
  • Financials -0.15%
  • Healthcare -0.03%
  • Industrials -0.56%
  • Information Technology -0.84%
  • Materials -0.10%
  • Telecommunications -0.14%
  • Utilities -0.79%
  • All Ords Gold Index 0.77%

Writing earlier today, my colleague Greg Mckenna noted that the ASX 200 index, at 5500, is tantalisingly close to the 5515 level, which is where the downtrend line stretching back to the 6000-ish highs struck last year.

“Throw in last week’s high of 5520.9, call it 5522, and that’s the level technical traders are watching to see if the ASX can actually break and start its run toward Christmas,” he says.

For the moment traders seem unwilling to test that level, but there’s still a long way to go in the session yet.

ASX 200 Weekly Chart

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