Nowadays it is not so straight forward as to say Commsec or...

Nowadays it is not so straight forward as to say Commsec or ETrade or Wealthub etc are purely retail holders. Big interests are very good at masking their moves. As information became more easy to obtain over recent years, the big interests have gotten more cagey.

So........... IMHO it is big interests unloading a bit of supply then some weak hands followed. The last 2 weeks trading has seen a topping action with supply increasing and demand decreasing. The TA was set up for a pullback and @cgdog did well to sell some at near the intermediate top in the last wave.

Now the question is how low will the big interests take the SP and more importantly is this going to be the start of a distribution cycle or just another re-accumulation play.

I have been certain of the TA plays up until now, but now I'm cautious because I can't see a clear indicator one way or the other at this time. Time will tell just like it always does.

Regardless, for LT holders it is wise not to fret as their vision should be on what the SP will look like come 2021/2022. Plenty of water to go down the proverbial creek yet.

Cheers