The Australian share market could be described as a bit 'old school' and a bit 'boring', but sometimes: boring is beautiful. It certainly appeared to be the case today, as the big fund managers scooped up plenty of those old school, boring stocks — lifting the benchmark ASX 200 near to an all-time high.
Be sure to click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key economic data in tonight's Evening Wrap. Also, I have detailed technical analysis on the Nasdaq Composite and the S&P/ASX 200 in today's ChartWatch.
Let’s dive in!
Today in Review
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
| ASX 200 | 9,019.3 | +0.47% |
| All Ords | 9,178.4 | +0.45% |
| Small Ords | 3,341.2 | +0.80% |
| All Tech | 2,967.0 | +0.95% |
| Emerging Companies | 2,799.6 | +0.75% |
Currency | ||
| AUD/USD | 0.7027 | +0.07% |
US Futures | ||
| S&P 500 | 7,558.5 | +0.52% |
| Dow Jones | 52,908.0 | +0.52% |
| Nasdaq | 28,610.5 | +0.73% |
Name | Value | % Chg |
|---|---|---|
Sector | ||
| Utilities | 9,788.8 | +2.10% |
| Industrials | 8,458.4 | +1.36% |
| Consumer Discretionary | 4,074.4 | +1.10% |
| Consumer Staples | 13,481.4 | +1.03% |
| Health Care | 26,904.9 | +1.02% |
| Information Technology | 1,784.5 | +0.80% |
| Financials | 9,935.6 | +0.41% |
| Materials | 23,256.5 | +0.30% |
| Real Estate | 3,638.5 | +0.01% |
| Communication Services | 1,639.3 | -0.01% |
| Energy | 10,519.3 | -1.19% |
ASX 200 Intraday Chart
%20intraday%20chart_3%20Aug.png)
Markets
The S&P/ASX 200 (XJO) finished 42.5 points higher at 9,019.3, 0.88% from its session low and smack–bang at the high-point of the session's range. In the broader-based S&P/ASX 300 (XKO) advancers beat decliners by a healthy 180 to 89.
Today started out thoroughly uninteresting.
Paint drying.
On grass growing.
Typical OTP on a Monday kinda stuff. 😪
But — and we could also argue — also typical of the OTP over the last month or so (i.e., since the HOT + SPICY money blew up 🌶️💥) we got some action between 14:00-14:30 when a massive programmed buy order struck.
KOSPI down over 5% today. Kinda fits, doesn't it? 🤔 Plus, it’s not uncommon to get some Fund Flow Shenanigans (FFS) on the first day of the month. Whatever the driver, today’s juicing was particularly juicy! 🧃
%20chart%203%20August%202026.png)
Wesfarmers (WES) chart — look at that monster closing price auction — JUICY!🧃
It was focussed on buying big, liquid, and stable stuff like the big banks, miners, WES, TLS etc. It’s also stuff that moves the index a great deal — stuff you buy when you want to allocate global fund flow dollars to sectors that don't have the letters "A" and "I" at the start of their names.
%20intraday%20chart_03%20Aug.png)
ASX 200 Financial XFJ) intraday chart 🧃
Hey, good for us, right? Boring is again beautiful!
%20intraday%20chart_03%20Aug.png)
ASX 200 Materials (XMJ) intraday chart 🧃
How much capital is still to hit our beloved OTP? Can it facilitate a new all-time high? Hey, we're only a whisker away on a total return basis...
%20chart_3%20Aug.png)
ASX 200 Total Return Index (i.e., dividends and capital gains)
Looking at the chart, I am increasingly of the opinion that it can. But, as I always say (not a hedge — a simple statement of fact): the future is unknown and anything can happen! 🔮
Today's best ASX Top 300 gainers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Benz Mining Corp (BNZ) | $3.89 | +$0.44 | +12.8% | +62.8% | +489.4% |
| Elsight (ELS) | $6.17 | +$0.58 | +10.4% | -19.1% | +237.2% |
| SKS Technologies Group (SKS) | $7.99 | +$0.69 | +9.5% | -8.6% | +250.4% |
| 4DMedical (4DX) | $3.96 | +$0.33 | +9.1% | -2.5% | +1198.4% |
| DroneShield (DRO) | $1.815 | +$0.12 | +7.1% | -24.1% | -50.0% |
| PYC Therapeutics (PYC) | $1.82 | +$0.12 | +7.1% | +12.7% | +54.0% |
| Catalyst Metals (CYL) | $5.76 | +$0.36 | +6.7% | +12.7% | +13.4% |
| FireFly Metals (FFM) | $1.86 | +$0.11 | +6.3% | +1.9% | +85.0% |
| Domino's Pizza Enterprises (DMP) | $19.73 | +$1.16 | +6.2% | +24.5% | +8.2% |
| Treasury Wine Estates (TWE) | $5.22 | +$0.29 | +5.9% | +16.0% | -30.7% |
| Genesis Energy (GNE) | $2.17 | +$0.12 | +5.9% | +1.9% | +2.6% |
| Macmahon Holdings (MAH) | $0.97 | +$0.045 | +4.9% | +9.0% | +212.9% |
| Sunrise Energy Metals (SRL) | $14.91 | +$0.63 | +4.4% | -12.2% | +1042.5% |
| Minerals 260 (MI6) | $0.615 | +$0.025 | +4.2% | -16.3% | +485.7% |
| Netwealth Group (NWL) | $22.43 | +$0.85 | +3.9% | +3.1% | -39.7% |
| Bravura Solutions (BVS) | $2.64 | +$0.10 | +3.9% | +32.7% | +19.5% |
| Metals X (MLX) | $1.635 | +$0.06 | +3.8% | +25.8% | +186.8% |
| Electro Optic Systems Holdings (EOS) | $6.94 | +$0.25 | +3.7% | -30.7% | +129.0% |
| Lovisa Holdings (LOV) | $24.75 | +$0.89 | +3.7% | +10.1% | -26.8% |
| Qantas Airways (QAN) | $10.32 | +$0.37 | +3.7% | -2.8% | -5.3% |
Today's worst ASX Top 300 losers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Heartland Group Holdings (HGH) | $1.00 | -$0.043 | -4.1% | +1.5% | +35.1% |
| Fortescue (FMG) | $17.80 | -$0.71 | -3.8% | -6.1% | -1.0% |
| Southern Cross Gold Consolidated (SX2) | $9.30 | -$0.35 | -3.6% | +4.7% | +73.2% |
| The Star Entertainment Group (SGR) | $0.135 | -$0.005 | -3.6% | +45.2% | +46.7% |
| Elevra Lithium (ELV) | $7.23 | -$0.23 | -3.1% | -28.2% | +119.1% |
| Champion Iron (CIA) | $3.31 | -$0.10 | -2.9% | -14.9% | -21.6% |
| Arafura Rare Earths (ARU) | $0.175 | -$0.005 | -2.8% | -30.0% | 0.0% |
| Regis Healthcare (REG) | $6.08 | -$0.15 | -2.4% | -5.9% | -28.0% |
| EBOS Group (EBO) | $18.18 | -$0.43 | -2.3% | +7.3% | -50.1% |
| Generation Development Group (GDG) | $4.02 | -$0.09 | -2.2% | +8.1% | -33.2% |
| Viva Energy Group (VEA) | $2.79 | -$0.06 | -2.1% | +31.6% | +32.2% |
| NexGen Energy (Canada) (NXG) | $13.00 | -$0.27 | -2.0% | -6.3% | +24.4% |
| MA Financial Group (MAF) | $5.60 | -$0.11 | -1.9% | -6.5% | -30.5% |
| Santos (STO) | $7.69 | -$0.15 | -1.9% | +8.5% | -1.9% |
| Yancoal Australia (YAL) | $5.47 | -$0.10 | -1.8% | -1.1% | -12.2% |
| Ricegrowers (SGLLV) | $13.83 | -$0.24 | -1.7% | +4.9% | +15.3% |
| PLS Group (PLS) | $4.08 | -$0.07 | -1.7% | -20.5% | +144.3% |
| Ryman Healthcare (RYM) | $1.78 | -$0.03 | -1.7% | -1.7% | -21.9% |
| Develop Global (DVP) | $4.76 | -$0.08 | -1.7% | -23.7% | +13.3% |
| LendLease Group (LLC) | $2.98 | -$0.05 | -1.6% | -3.6% | -43.5% |
Chartwatch
Nasdaq Composite Index
Nasdaq Composite Index chart
Analysis
Yep, don't mess about with the long term uptrend ribbon...
But, did you know... That long term uptrend ribbon is the SHORT TERM uptrend ribbon on the weekly chart. 🤯
Comp weekly chart, what do you notice?
I know I've told you not to flip-flop between periodicities, but it can be helpful to occasionally take a peek over at the weekly to get an idea of the 'bigger picture'. It must not frame our risk allocation based on our chosen periodicity, however.
But the weekly chart does put into perspective something I've been very consistent in reminding you in this little blog of mine each day:
Just like olives have pits... It's in the nature of the Comp to rise in a bull market! 🫒
Back to the daily periodicity.
As noted in the first sentence of today's analysis: The long term uptrend ribbon — our favourite dark green caterpillar — continues to reign supreme! 🐛
But it's nemesis, the light pink boa constrictor lies in wait, ready to strike and squuueeeezzzeee the Comp's promising two-day rally! 🐍
Who will win — the caterpillar or the boa constrictor (sounds like a David Attenborough doco! 😉)?
We shall see!
🐛🏆
Demand side candles (i.e., white-bodied and or downward pointing shadows) at the short term trend ribbon, preferably on above average volume to signify supply removal and greater demand side participation.
A higher trough to 24425
🐍🏆
Supply side candles (i.e., black-bodied and or upward pointing shadows) at the short term trend ribbon.
Another lower trough in the short term trend ribbon.
Last two candles = very solid demand side showings... Plus look at Friday's volume (no doubt end of month contributing there, but it could also be an increase in engagement from the demand side to BTD).
Balance those positives against the short term downtrend and the supply side price action (i.e., falling peaks and falling troughs), and its arguably still a market that's largely at equilibrium. ⚖️
View
Less than 1/2RP and greater than 1/3RP 🤦. (RP = Risk Position — it reflects my personal allowable capital allocation limit for my investments in US stocks. So 1/2RP is 50%, 2/3RP is 67% and FRP is 100%).
Key Levels
26789-27191 is the key zone of supply vs long term uptrend ribbon (presently 23672-24556) is the key zone of demand.
S&P/ASX 200 (XJO)
%20chart_3%20Aug.png)
S&P/ASX 200 (XJO) chart
Analysis
Downward pointing shadow — which can only occur when there’s latent demand lying in wait in to BTD.
White body — which can only occur when FOMO and HUFU combine to ensure D > S = P ⬆️.
Close smack-bang at the session high — which implies that, ding, ding, ding, ding, ding… The only thing that stopped the demand side from hoovering up more stock was the closing bell! 🔔
All good stuff, and all good stuff we’d associate with a healthy demand side market. ✅
Healthy demand side market = MOTN P ⬆️
That’s all I need to know.
I don’t care if it was FFS or the JUICIEST OF JUICING! 🧃🧃🧃
It just is!
So, JUICE AWAY big fund managers! Do you worst!
View
It's latent demand. It's building FOMO and HOFU — JUICED or otherwise. And it means that after another candle like today, I could see myself going: FRP.
Key Levels
9201 is the key point of supply, while demand is at 8708-8656.
(Glossary of acronyms! Old Tin Pot (OTP): S&P/ASX 200 | MOTN: More Often Than Not | FOMO: Fear Of Missing Out | HOFU: Holding On For Upside | BTD: Buy The Dip | NUTE: No Urgency To Enter | FOHO: Fear Of Holding On | STR: Sell The Rally | RP: Risk Position | FFS: Fund Flow Shenanigans!)
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Economy
TODAY
AUS July MI Inflation Gauge
Result: +1.0% m/m vs -0.4% m/m in June
Reader: Annualise +1.0% m/m... It ain't good! Yeah, yeah, that's not how it works, but this is still going to be a scary number for the RBA.
LATER THIS WEEK
Tuesday
00:00 USA ISM July Manufacturing Purchasing Managers Index (PMI) (54.0 forecast vs 53.3 in June)
11:30 AUS July ANZ Job Advertisements
11:30 AUS June Household Spending (+0.2% m/m forecast vs +1.3% m/m in May)
Wednesday
00:00 USA July JOLTS Job Openings (7.42 million forecast vs 7.59 million in June)
Thursday
00:00 USA July ISM Services PMI (54.5 forecast vs 54.0 in June)
Friday
10:30 USA July Non-Farm Payroll (employment) Data
Employment change: +88,000 forecast vs +57,000 in June
Unemployment Rate: 4.2% forecast, unchanged
Average Hourly Earnings: +0.3% m/m forecast, unchanged
Interesting Movers
Trading higher
- FleetPartners Group (FPR) $3.32+17.3%
Rose after it announced it had received an unsolicited takeover proposal from SG Fleet Topco to buy all outstanding stock at an indicative $3.60 a share via a scheme of arrangement; subject to due diligence and regulatory approval (valued at around $770 million).
- Benz Mining Corp (BNZ) $3.89+12.8%
Rose after it delivered a presentation to the Diggers and Dealers conference in Kalgoorlie.
- Elsight (ELS) $6.17+10.4%
Rose after it announced; performance also reflected general strength in the broader defence sector.
- 4DMedical (4DX) $3.96+9.1%
Rose on no news, likely a continued positive response to the company's quarterly update released on Friday.
- DroneShield (DRO) $1.82+7.1%
Rose on no news, performance reflected general strength in the broader defence sector.
- Domino's Pizza Enterprises (DMP) $19.73+6.3%
Rose on no news, performance reflected general strength in the broader consumer discretionary sector.
- Electro Optic Systems Holdings (EOS) $6.94+3.7%
Rose on no news, performance reflected general strength in the broader defence sector.
- Lovisa Holdings (LOV) $24.75+3.7%
Rose on no news, performance reflected general strength in the broader consumer discretionary sector.
- Qantas Airways (QAN) $10.32+3.7%
Rose on no news, performance reflected general strength in the broader consumer discretionary sector.
- Liontown (LTR) $0.99+2.6%
Rose after it delivered a presentation to the Diggers and Dealers conference in Kalgoorlie.
Trading Lower
- Aeris Resources (AIS) $0.38-7.4%
Fell after it announced its production and cost guidance for FY27 — group production guidance broadly similar to FY26, growth capital materially higher in FY27, exploration spend to ramp up, care and maintenance costs to be significantly less at Jaguar.
- Fortescue (FMG) $17.80-3.8%
Fell on no news; Likely reaction to the company's quarterly update released on Friday — as several brokers lowered price targets today. Also, benchmark iron ore futures traded sharply lower in Singapore.
- BetaShares Australian Sustainability Leaders ETF (FAI) $0.000.0%
Fell after it announced the results of a testing program for the company's NOL8 AI Data Plane; management said performance met or exceeded expectations and NOL8 was proven across three continents on Megaport’s global network for AI use cases.
Broker Moves
Company | Broker | Action | Rating | Price Target |
|---|---|---|---|---|
AV1Adveritas | Bell Potter | Retained | Buy | $0.16(from $0.18) |
BHPBHP Group | Morgan Stanley | Retained | Overweight | $67.50 |
BNZBenz Mining Corp | Canaccord Genuity | Retained | Speculative Buy | $6.00 |
BOEBoss Energy | Citi | Retained | Neutral | $1.35(from $1.60) |
BRGBreville Group | Citi | Retained | Buy | $39.85 |
BTLBeetaloo Energy Australia | Morgans | Retained | Speculative Buy | $0.77(from $0.90) |
BUBBubs Australia | Bell Potter | Retained | Speculative Buy | $0.14 |
| Ord Minnett | Retained | Accumulate | $0.12 | |
CCLCuscal | Jarden | Initiated | Overweight | $5.40 |
CIAChampion Iron | Bell Potter | Retained | Hold | $3.40(from $4.40) |
CMMCapricorn Metals | Bell Potter | Retained | Buy | $17.80(from $16.70) |
| Goldman Sachs | Retained | Neutral | $17.30(from $17.10) | |
| JPMorgan | Retained | Overweight | $17.40(from $18.30) | |
| Macquarie | Retained | Outperform | $15.90 | |
CSCCapstone Copper Corp. | Citi | Retained | Buy | $16.60 |
| Macquarie | Retained | Outperform | $17.80 | |
| Morgans | Retained | Buy | $18.00 | |
CSLCSL | UBS | Retained | Buy | $158.00 |
CYLCatalyst Metals | Argonaut Securities | Retained | Buy | $11.50(from $13.60) |
| Bell Potter | Retained | Buy | $13.25(from $14.60) | |
| JPMorgan | Retained | Overweight | $8.40(from $8.30) | |
DMPDomino's Pizza Enterprises | Citi | Retained | Neutral | $19.70(from $16.90) |
DRRDeterra Royalties | Morgan Stanley | Retained | Underweight | $3.95 |
DYLDeep Yellow | Morgans | Retained | Speculative Buy | $2.00(from $2.56) |
EBREBR Systems Inc | Bell Potter | Downgraded | Speculative Buy(from Buy) | $0.90 |
FHEFrontier Energy | Ord Minnett | Retained | Speculative Buy | $0.35(from $0.34) |
FLCFluence Corporation | Bell Potter | Upgraded | Speculative Buy(from Hold) | $0.11 |
FMGFortescue | Bell Potter | Upgraded | Hold(from Sell) | $17.40(from $18.15) |
| Jarden | Retained | Underweight | $15.60(from $16.00) | |
| Macquarie | Retained | Outperform | $20.00(from $21.00) | |
| Morgan Stanley | Retained | Underweight | $17.25 | |
| Ord Minnett | Retained | Accumulate | $20.00(from $20.50) | |
| UBS | Retained | Neutral | $19.05(from $19.70) | |
GQGGQG Partners Inc. | UBS | Retained | Buy | $1.95 |
HRNHorizon Gold | Ord Minnett | Initiated | Speculative Buy | $1.70 |
IAGInsurance Australia Group | UBS | Retained | Buy | $9.60 |
ILUIluka Resources | Morgan Stanley | Retained | Overweight | $8.15 |
IODIODM | Shaw and Partners | Retained | Buy | $0.29 |
KGLKGL Resources | Bell Potter | Initiated | Speculative Buy | $0.50 |
LYCLynas Rare Earths | Morgan Stanley | Retained | Equal Weight | $15.70 |
MEIMeteoric Resources | Macquarie | Retained | Outperform | $0.43(from $0.45) |
MMIMetro Mining | Shaw and Partners | Retained | Buy | $3.00 |
NHFNIB Holdings | UBS | Retained | Neutral | $7.60 |
ORGOrigin Energy | Citi | Retained | Buy | $12.10(from $12.25) |
| Jarden | Retained | Overweight | $11.50 | |
| Jefferies | Retained | Buy | $12.22(from $12.54) | |
| Macquarie | Retained | Neutral | $10.00(from $10.16) | |
| Ord Minnett | Retained | Hold | $10.70(from $10.40) | |
| RBC Capital Markets | Retained | Sector Perform | $13.00 | |
| UBS | Retained | Buy | $13.45(from $13.40) | |
PARParadigm Biopharmaceuticals | Bell Potter | Retained | Speculative Buy | $0.42(from $0.45) |
PDNPaladin Energy | Morgan Stanley | Retained | Overweight | $11.95 |
PLSPLS Group | Morgan Stanley | Retained | Equal Weight | $4.95 |
| Ord Minnett | Retained | Buy | $6.00(from $6.20) | |
RSGResolute Mining | Macquarie | Retained | Outperform | $1.45 |
RXLRox Resources | Ord Minnett | Initiated | Speculative Buy | $0.70 |
S32South32 | Morgan Stanley | Retained | Overweight | $4.75 |
SFRSandfire Resources | Morgan Stanley | Retained | Equal Weight | $17.55 |
SLSSolstice Minerals | Canaccord Genuity | Retained | Speculative Buy | $2.55 |
STXStrike Energy | Bell Potter | Retained | Speculative Buy | $0.16 |
TTTTitomic | Bell Potter | Retained | Speculative Buy | $0.46(from $0.50) |
| Ord Minnett | Retained | Speculative Buy | $0.38 |
Scans
Top Gainers
Code | Company | Last | % Chg |
|---|---|---|---|
| CDR | Codrus Minerals Ltd | $0.038 | +46.15% |
| GRS | Gwardar Resources Ltd | $0.56 | +36.59% |
| VTX | Vertex Minerals Ltd | $0.12 | +27.66% |
| 5GG | Pentanet Ltd | $0.019 | +26.67% |
| IS3 | I Synergy Group Ltd | $0.20 | +25.00% |
Top Fallers
Code | Company | Last | % Chg |
|---|---|---|---|
| EXR | Elixir Energy Ltd | $0.055 | -26.67% |
| CXU | Cauldron Energy Ltd | $0.096 | -23.20% |
| SCN | Scorpion Minerals Ltd | $0.02 | -20.00% |
| MAT | Matsa Resources Ltd | $0.045 | -19.64% |
| AU1 | The Agency Group Australia Ltd | $0.022 | -18.52% |
52 Week Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| CDR | Codrus Minerals Ltd | $0.038 | +46.15% |
| GRS | Gwardar Resources Ltd | $0.56 | +36.59% |
| HMG | Hamelin Gold Ltd | $0.205 | +20.59% |
| FPR | Fleetpartners Group Ltd | $3.32 | +17.31% |
| HMX | Hammer Metals Ltd | $0.076 | +15.15% |
52 Week Lows
Code | Company | Last | % Chg |
|---|---|---|---|
| MAT | Matsa Resources Ltd | $0.045 | -19.64% |
| CC9 | Chariot Resources Ltd | $0.04 | -18.37% |
| GIB | Gibb River Diamonds Ltd | $0.029 | -17.14% |
| AEI | Aeris Environmental Ltd | $0.025 | -16.67% |
| WC1 | West Cobar Metals Ltd | $0.012 | -14.29% |
Near Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| GLPR | iShares Ftse GBL Property Ex Aus (Aud Hedged) ETF | $29.19 | -0.98% |
| RHC | Ramsay Health Care Ltd | $43.88 | -1.04% |
| AN3PI | Australia and New Zealand Banking Group Ltd | $103.18 | -0.03% |
| WVOL | iShares MSCI World Ex Aust Minimum Volatility ETF | $45.64 | 0.00% |
| PYC | PYC Therapeutics Ltd | $1.82 | +7.06% |
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
|---|---|---|---|
| CELDB | Challenger Gold Ltd | $2.00 | -3.38% |
| WC8 | Wildcat Resources Ltd | $0.33 | -1.49% |
| LOT | Lotus Resources Ltd | $0.235 | -2.08% |
| LYC | Lynas Rare EARTHS Ltd | $14.04 | -0.36% |
| ARU | Arafura Rare EARTHS Ltd | $0.175 | -2.78% |
