Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market jumped up on the open on global sentiment and then gave it up and more to be in the red before making the grind back to slight positive day by the close. The Aussie market is running out of juice as it gets close to 5400. Similar to the US market where the SP500 is stretched to go past 2100. Capex outlook shows that recovery is going to be tough in a low growth world. We can only see under-employment getting worse and flowing into consumer spending in the short to medium term. As we have been warning clients since early May > Market has already peaked in the current cycle…nearly 2 weeks ago…we are at the early stages of the May sell off….no need to panic, prepare and take advantage of it!!! Now is a good time as any to do some tax loss selling ahead of the market rolling over…before the momentum monkeys rush to the door!!! (VIEW LINK)