Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market was smacked into red on the open and then continued to slide down before making a slight recovery and closing down 2%. US markets were down just short of 2% and UK market was down just over 3% over the last two trading days. Aussie market had a catch up day after being closed for the long weekend. The market is now in the process of delivering three straight negative weeks as the macro risks build up. US Fed backflip, Brexit worry, BOJ clueless and “dumb and dumber” domestic election cycle has driven the Aussie bond yields to 2.06%.....i.e. historical low levels. We are in a short week with RBA speech, US Fed meeting update, ABS employment update and BOJ rate decision coming on “Super Macro Thursday”. Market already below 50 day MA…likely to pullback below 100 and 200 day MA….buy territory between 5000 and 5100 for now!!!.…..Daily Double > Buy gold for Brexit and Trump win….Spot gold going to US$1500!!!....Box Trifecta > Buy gold for Brexit, US inflation and Trump win….Spot gold going to US$2000!!! (VIEW LINK)