Market moved up again on global positive sentiment ahead of the US Fed update to be only 40 points off the 2016 high…but on accumulation (i.e. dividends included) basis we are at all-time highs (i.e. created a new high today). The positive performers today were led by Discretionary retail and Utilities while Resources sectors were the only negative performers. Aussie market is stretched on valuation with growth worries while Banks are now back at premium valuation and weak growth after offering the major boost in the past month. The Chinese housing cycle starts to point towards potential Iron Ore weakness ahead!!! For the full report… (VIEW LINK)
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