Pulse

ASX 200 8,665 (-0.43%), open likely soft tracking Monday NY sell-off

BHP 59.80 (-1.5%) on weak iron sentiment; CBA 151.52 (+0.5%) holding up

CSL 181.91 (+2.8%) standout again; WES 73.59 flat as defensives see rotation

Resources lighter while healthcare/defensives carry the tape

Hang Seng 24,510 (-1.01%), risk-off mood ahead of holiday-season flows

Tencent 439.8 (+0.7%) resilient; Meituan 71.9 (+0.4%) steady

Alibaba 107.7 (-0.7%) lagging; Xiaomi 25.86 (-0.2%) quiet

Tech mixed; mainlandNama flows the swing factor

S&P 500 7,684 (-0.77%), Nasdaq 26,820 (-0.92%) after last week's records

TSLA 357.45 (-3.9%) big drag; NVDA 228.86 (+1.7%) bucked the trend

GLD 377.91 (-3.9%) sharp gold pullback — profit-taking after the run

TLT 78.62 (-0.9%) yields firmer again; bonds offering no shelter

SPY 765.61 / QQQ 736.53 — breadth negative, sawtooth tape near highs

Friday's record highs followed by Monday fade — classic churn, not breakdown yet

Gold's one-day -4% suggests crowded trade unwinding; watch if it stabilizes

US yields edging up is the risk this week; keeps pressure on growth multiples

Cautious tape. UA Friday highs faded; treat breakouts with less conviction until S&P holds 7,600.

Gold pullback likely consolidation, not trend break — quality producer pullbacks may be entries.

AU: defensives strong, resources weak; keep position sizes modest until iron ore direction clarifies.

Desk: uranium complex (PDN, DYL, BOE) watch-listed near trigger levels; TPs and stops per plan. No new action at the open.