Looking back in a few weeks will be the only confirmation of this being a new base or a bull trap.
The Fed may be talking up interest rates however sectors leveraged to industrial production aren't displaying enough discounted risk for me to swap out defensives yet.
On the technical front, last week MT support saw respect. The selloff reversed on high volume with last close a solid engulfing white candle.
Closer to home, the XHJ GIC has come down to support levels.
Aus Bio PE's are significantly lower than their US counterparts.
With an investment outlook, I see a buying opportunities in low risk near cash flow positive micro's.
