Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market traded choppy and sideways most of the day before a big large cap selloff in the last 90 minutes took the market down 1% at the close. US Fed backflip, Brexit on ECB, clueless BOJ and “dumb and dumber” domestic election cycle has driven the Aussie bond yields as low as 2.03% intra-day.....i.e. new historical low level. We are in a short week with “Super Macro Thursday”…headline acts are…. (1) US Fed update to the market (2) future RBA head Lowe’s speech (3) ABS employment market update and (4) BOJ rate decision. The markets are likely to remain weak in June till Brexit is out of the way. Get ready to jump on preferred stocks when they hit your target…get your shopping list ready!!! As the market pulls back, buy into the market while everyone else is cautious!!! Market is already below 50 day MA…likely to pullback below 100 and 200 day MA in the next few days….buy territory near 5000 for now!!! (VIEW LINK)