Sunset Strip (Afternoon Report) - Aussie market maintains another positive day on low volume with China flash PMI out tomorrow and US corporate earnings...
Sunset Strip (Afternoon Report) - Aussie market maintains another positive day on low volume with China flash PMI out tomorrow and US corporate earnings beginning to come through. Despite being positive long term, we turned negative on Apr 11th morning due to US reporting season risk, China growth worries, AUDUSD at the peak level we expected in current cycle, Aussie market struggling to break past our short term target for S&P 300 of 5400-5500, US VIX and Aussie VIX at historical low levels, Aussie fund managers on school holidays, optimism on central bank support in the price, financial sector upgrades in the price, sell in May trend getting airplay and Aussie market growth outlook not justifying current valuation level. We maintain our positive view on Online stocks REA, SEK, CRZ, IPP and JIN to outperform the market with improving US tech sentiment. (VIEW LINK)
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