ASX: Banks and Miners v the Rest

The struggle between miners and banks is changing.

The ASX 200 rallied this week, breaking out of its downward trend channel. Although in a primary down-trend after breaching 5800, the index is enjoying strong support.

ASX 200

And that is despite the Banks taking a hammering.

ASX 300 Banks

Miners did nothing this week.

ASX 300 Banks

But most other sectors rallied strongly: Consumer Staples…

ASX 200 Staples

Consumer Discretionary, Health Care…

ASX 200 Health Care

Utilities and Industrials.

ASX 200 Industrials

The change reflects a rosier global outlook, with Commodities rising, but I doubt that it can last without support from the ASX 200’s two biggest sectors.

S&P 500 reporting in full swing

Of the 172 S&P 500 stocks that have reported for Q3 2015: 120 beat, 37 missed, and 15 met their estimates.

S&P 500 Q3 2015 operating reports

Sectors with the highest percentage of misses so far are: Materials, Energy and Financials. Lowest are: Information Technology, Health Care, Telecom and Utilities.