Sunset Strip | Aussie market remained slightly negative with negative global lead

Sunset Strip | Aussie market remained slightly negative with negative global lead. Market sentiment is such a fickle beast that one big down day in US has suddenly set the seed of doubt in everyone. Optimist remain positive with this being a slight pullback (i.e. we are in this camp) while pessimist are expecting US to have a decent correction near 10% range. Given where our currency is trading and the recovery seen in China, we don't see a big correction in Aussie market even if the US falls. But it would be naïve to not advice clients to take profit when the market turns at post GFC high multiples. We remain positive in the long term and expect the money sitting on the sidelines to come back into the market as the S&P 200 gets below 5400. (VIEW LINK)