Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market was pulled down by miners from the start before closing slightly higher than the day’s lows. The negative day ends an 8 day positive run. There have been only been two times since the GFC that the market had more than 8 consecutive positive days…10 days in mid 2013 and 13 days in early 2015. The corporate updates are going to dry up as the main chunk of the reporting season does not start till early August. The market is in a weak period between school holidays and reporting season when volumes are low and sentiment is weak. The markets have moved from Brexit worry to stimulus party…but expect some profit taking before reporting season as institutional investors come back from school holidays…. (VIEW LINK)