A rotation out of tech stocks has pre-empted US earnings season, and while some analysts are lowering estimates, fund managers are still bullish.

The Australian sharemarket consolidated around the 5-1/2-month high it hit late last week as a two-week run of gains runs out of puff.

Rather than celebrating the ASX's recent solid year-long run, strategists are questioning whether it will continue - and what to do if things turn sour.

The board of troubled ASX-listed biotechnology group Sirtex found it "very difficult" to let go of its former chief executive, Gilman Wong, according to outgoing chairman Richard Hill.

Saudi billionaire Prince Alwaleed bin Talal is joining the long line of sceptics saying bitcoin is a bubble as the digital currency continues to set record highs.

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Local stocks are expected to open modestly lower, with little inspiration from overseas markets.