Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market ran into a brick wall of profit taking from global investors ahead of similar profit taking in Europe and US tonight. As we have been saying for the past few weeks, all the macro, fundamental, technical and trend leading indicators were showing profit taking was coming. It was all about the trigger point after US Fed pulled back the rate rise cycle. In the shorter term, profit taking just comes down to the two main key factors in financial markets that never disappoint…GREED and FEAR. US markets were set up to fall while fund managers were waiting for the end of month to lock in the positive Q1 and also a near flat rolling 12mth performance. Aussie market fair value with yield premium adjustment has dropped by 150 points in the past month on the back of downgrades to banks and resources. The risk of going to a new lower low in April is very likely. Time to be patient and pick the time to buy-in or add more exposure. (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment