The sharp recovery in (in particular) cyclicals and other laggards in the Australian share market has triggered a flurry in rating changes among stockbroking analysts. For the week ending Friday, 11th May 2018, FNArena counted twelve upgrades for individual ASX-listed stocks versus 19 downgrades.
Also obvious: most companies releasing financial results and quarterly market updates this month are triggering negative responses. If it weren't for exceptions such as Macquarie Group, Xero and REA Group, and for positive momentum behind miners and energy producers, underlying momentum would be a lot weaker.
Local reporting season continues this week, alongside investor days, AGMs, quarterly updates and major banks going ex-dividend.