Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market was up and down on lack of macro direction and finished a slight positive in line with global sentiment. We are getting to the last few days of the reporting season and the market is looking forward to the US Fed update from Jackson Hole Wyoming on Friday night. The market has performed admirably well to remain at these stretched levels despite weak growth outlook and some earth shattering write downs. It is quite weird to look at the US markets trading up one day and down the next to really go nowhere for weeks. History shows that US market always run into a profit taking cycle between May and October since GFC. Interesting moves of the day…....…. (VIEW LINK)