Aussie market was slaughtered on Brexit while European markets will be road kill as the momentum truck goes through tonight. We can see FTSE pulling back between 15-20% in this down cycle while US is looking at 8-10% down cycle. When market sentiment is shot and they move into freefall, it is better to stand back and watch…don’t catch a falling knife!!! Aussie market valuation support kicks in around 4900-5000…approx 5% more downside risk. This is not a GFC but global growth just became even weaker and more uncertain. Yield trade is inevitable when the dust settles. In the meantime, take your time and accumulate new economy sectors like Health Care (i.e. CSL, RHC and MYX) and Telcos (i.e. TLS and SPK) in the market selloff. (VIEW LINK)



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