Sunset Strip (Afternoon Report) - Aussie market delivered another positive day post flat China flash PMI and stable interest rate outlook

Sunset Strip (Afternoon Report) - Aussie market delivered another positive day post flat China flash PMI and stable interest rate outlook. Expect more global macro data from US and Euro out tonight. Despite being positive long term, we turned negative on Apr 11th morning due to US reporting season risk, China growth worries, Ukraine/Russian standoff, AUDUSD at the peak level we expected in current cycle, Aussie market struggling to break past our short term target for S&P 300 of 5400-5500, US VIX and Aussie VIX at historical low levels, Aussie fund managers on school holidays, optimism on central bank support in the price, financial sector upgrades in the price, sell in May trend getting airplay and Aussie market growth outlook not justifying current valuation level. Due to the short week and stretched valuations, if US/Euro macro doesn't dazzle, expect profit taking tomorrow. (VIEW LINK)