Another day of bashingYes GTR finished 1 pip down on 1.5c. Our...

Another day of bashing

Yes GTR finished 1 pip down on 1.5c. Our volume was much lower then yesterday, around 5.3m shares traded. Shows lot of punters not happy to sell lower, lets see what the next few days bring.

ASX U stocks also went for a battering. Of the 19 stocks that I track, average decline was around 6%.

Overnight US U stocks were also down, in a similar range to what we experienced. Both the URNM ETF of US and ASX also declined just over 5%.

What next - The stocks have gone into a descending spiral. They have lost the ability to unwind for now. They need a catalyst, but none appears on the horizon. Tonight US market may go into another wild dance based on what is the interest rate rise and tone of Mr Powell. So we need to brace for some more turbulent period. We still have to deal with EOFY sell on the ASX side - which might go late into next week. But there is also a chance of relief rally - but punters are not sure even if we get one, that can be sustained in short term. Most of the US indices have lost around 10% in last 6 trading days. Surely there has to be a green based on probability. But is a very unpredictable night, but lets hope we get a decent green. All the best.