8@eight: ASX to shoot higher

By John Kicklighter
Updated November 17 2017 - 9:38am, first published 9:35am
The information of stocks that lost in prices are displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
The information of stocks that lost in prices are displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
Stock information is displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
Stock information is displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

Not yet. Global markets are not yet ready to capitulate on their strong run this year - an extension of an otherwise generous decade. Rebound was the name of the game across the world this past session, but the recovery effort was uneven with those suffering the worst declines of late offering up the least enthusiasm. The champion of the day's bullish sentiment were US markets. US equity indexes flipped from tentative head-and-shoudlers breakdown to the strongest single-day rally in months. Moving further away from the epicenter of complacency, emerging markets and junk assets are scaling a far deeper crevasse, while global indices were far more measured in their recovery. The question investors and traders need to ask themselves is whether this is a wave of confidence or mere scramble to 'buy the dip' when the first opportunity in a while presented itself. Another consideration: would there be a difference in the ultimate outcome for the market?

The long and short of it

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