Sunset Strip (Afternoon Report) - Aussie market jumped up nearly 1% after US tech selloff looks like ending and DJS takeover bid

Sunset Strip (Afternoon Report) - Aussie market jumped up nearly 1% after US tech selloff looks like ending and DJS takeover bid. We turned positive short term on 25th March after the markets had priced in manufacturing slowdown on a global basis, US/Euro action against Russia have been irrelevant and China slowdown reduced credit risk. We maintain our view since then due to local markets to benefit from nearly $10b dividends being reinvested, better US data, China stimulus plans and more accommodating US/Euro Fed. We expected the market to be positive today while the big move was driven by short covering in multiple sectors with optimism coming back. We expect tomorrow to be more subdued day given the big move today to new post GFC high level. Better volume, optimism returns, post GFC high, bears covering shorts...what brokers dream about!!! (VIEW LINK)