Originally Posted by
JohnnyTheHorse
Not entirely unsurprising as at the lows bearish sentiment was extreme. We are now seeing the unwinding of these short positions and FOMO return to the market. Long term shorts are scouting a good risk/reward entry playing off ATH's. I think the bigger picture of rising yields is too great for markets to overcome, but I don't expect us to crash down in the near term either. I'm basing my trading plans around trading in a range of the ATH and recent fear low for at least the next few months, with a bear breakdown later in the year.
One thing is for sure though... the NZX is a dog and has been gaining more and more dog status by the day.