Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market started negative and then moved further negative as China came online to finish in the red. The markets are seeing exhausted buyers and excited sellers. Aussie market has been trading sideways for more than two weeks and looks to be rolling over on low turnover. We have two short weeks while US will be trading on Monday when we are not….Fund Managers will be taking some off the table in this market. We have had a relief rally while the outlook remains weak. You can’t lose money locking in profit!!! Media sector looks good with prolonged election cycle and industry consolidation….APN, FXJ, PRT and SXL. Gold sector is seeing selling as we expected in the short term, but we remain positive in the medium to long term market risk thematic to drive spot gold higher. (VIEW LINK)