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.
And that is despite the Banks taking a hammering.
Miners did nothing this week.
But most other sectors rallied strongly: Consumer Staples…
Consumer Discretionary, Health Care…
Utilities and 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.