There was every opportunity for the market to pullback today, the ASX 200 is up approximately 6% on the most recent drive from the ~7000 handle, US markets were down around 1.3% overnight, Asian markets were mostly lower and while US Futures were up, it wasn’t by a big margin,.
The ASX marched higher today supported by another strong rally in the technology stocks while talk of further buy-backs amongst the banks saw the sector well bid. Overall, the market is net bearish given the confluence of negative headlines and a bunch of traders we talk with are scratching their.