Rally running out of puff

Rally running out of puff

The markets failed to achieve any real traction as the week progressed with the Dow not offering any inspiration, falling by 1.89% and 2.1% on consecutive nights.
No new themes came to surface as various countries made moves to loosen the lockdown parameters. Now that there seems to be a better understanding of where the trouble spots are, and there is closer monitoring, we can gradually move back towards the mainstream whilst being prepared to act swiftly to clamp down on any new hots spots (which will inevitably arise).
On the charts the All Ords and the Energy indices are still in a consolidating correction pattern with a risk of moving lower, but the Metals and Mining Index has broken out of such a pattern on the upside. Iron ore and gold producers were responsible for the strength as both commodity prices have been improving.