AGE Daily Report, page-179

Markets in panic mode?
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Will keep it short as covered most in weekly report.
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Yes AGE lost 1 pip to finish at 3c. Our volume was not very high, just over 7m shares traded. Still trying to hold 3c, trading more or less as expected.
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ASX U stocks were quite weak. Of the 28 stocks that I track, average loss was around 4%.
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What next:
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Markets in a very volatile and uncertain state. The key data this week is Fed Rate Rise on Wednesday. But markets are already panicking, with general economy, banks failing and fear of recession taking centre stage.
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SP 500 was supposed to play in the zone of 3800 to 4000, with many expecting that in short term markets will go up around 2% and test 4000. But the way ASX traded today was as if its expecting big drops in US markets. It would be good to hold 3800 and worst 3750 - else all those bears calling for a drop to 3250(+/-) would be proven right.
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The recent rally/stabilisation in markets has been done by Tech sector. Resources are quite weak. Energy sector has been the worst performer in last 3 months. It is reflected in The Uranium and Lithium sectors I cover.
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Personally still playing mostly defensive.
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So what will happen tonight? US Futures flat. Asian markets largely red - some big reds as well. Bitcoin - the riskiest asset is taking a big advantage of banking crisis and is going from strength to strength. Clearly the co-relation between cryptos and stocks is now not happening. Markets are very fragile and any one news can act as tinder and fire it up - either way. At best we could hope for Mr Powell to come to some rescue, but that is still couple of days away. It would be good if markets hold till that time and try to cross 4000/4100. Will that happen? Lets hope so. All the best.