ASX 200 plain sailing at present

Iron ore tailwinds show no signs of abating, with spot prices close to $110/tonne.

Iron Ore

It’s all plain sailing, with the ASX 200 advancing towards its 2007 high at 6830. Penetration of the rising trendline is unlikely but would warn of a correction to test support at 6000.

ASX 200

I continue to maintain a high level of cash in my Australian Growth portfolio because of long-term headwinds.