The ASX 200 trades back into positive........>

STOCKS: The ASX 200 trades back into positive territory (traded down ~1.5% at

one point), with the IT sector the major outperformer on the day, while consumer

staples are also providing some underlying support. Also worth noting that the

heavyweight financial sector is back to near enough neutral levels after

struggling on Westpac's earnings/dividend decision suspension flagged earlier.

This is now outweighing a particularly negative session for the energy sector.

- The index hovers around the 5275 area, the 21-DMA at 5311 provides the

immediate point of resistance. Through there, focus would likely turn to the

recent short-term double top formation around the 5549/5563 area.

- Do note that the ASX 200 hasn't been subjected to the holidays seen across the

broader Asia-Pac region, so there is less "catching up" for the index to do

today.

- Also worth noting that e-minis are off worst levels, as flagged earlier, with

USD/CNH's failure to establish itself above CNH7.1500 allowing risk assets to

generally recover from worst levels of the day.