Aussie market opened negative with global markets before recovering some losses. The market gave most of the China bounce form yesterday to the US fall today. Tomorrow is Friday and investors will not be willing to make big bets on a Friday with heightened market worry. The market worry is all about US now. The US markets are showing signs of potential “Death Cross” rollover in the US reporting season…where 12 monthly MA and 24 monthly MA rolls over 36 monthly MA. We see the risk of a correction in the US but not another crisis. We do see a correction in the US markets in the next 3mths and RBA cutting rates in Q2 & Q3 while remaining positive on the markets due to the substantial premium yield in the offering. Notable moves today were… (VIEW LINK)
Please sign in to comment on this wire.