XJO 0.11% 6,167.0 s&p/asx 200

todays update so far

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    Well well....ASX 200 down 66.5 points at 1.6% at 4155.0, hits 4138.2, unwinding yesterday's 64 point closing surge, which was obviously driven by a large buy order

    Sensing some deja vu after index jumped on the close yesterday. Last time that happened, the market subsequently fell to fresh bear market lows. Some traders
    taking profit on long positions.

    All sectors down, led by some of Monday's strong
    performers - consumer discretionary and property trusts. But there has been some improvement in fundamentals, with BBSW-OIS spread, an indicator of banks funding costs,
    falling 10 bps to 54 bps, lowest since Sept. 14 (pre-Lehmans crisis).

    Volume is very light, due to the Melbourne Cup holiday and consolidation around the 4160.0 pivot level should prevail until the market gets a clearer lead from Wall Street.

    Good luck with the cup everyone.
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