In fact this correction is long overdue and has been expected for a long time. Now that it has come will it be sustained or just a healthy pullback for another push higher.
Wednesday, 24 June 2009
Sentiment trumps all
Its amazing how things change in a week. The sentiment is shifting and the fear is re appearing as we continue to have weakness in equity markets. After yesterdays pretty much sideways day, futures this morning were pointing up nicely but soon as the cash markets opened we pretty much sold of in a straight line back to flat again. Now not saying that we wont attempt to rally again, but a week or more back every pullback was an opportunity, it seems now that sell on any spike. We can see on the char below the spike down after the cash market open in the Eurostoxx at 8am GMT.
In fact this correction is long overdue and has been expected for a long time. Now that it has come will it be sustained or just a healthy pullback for another push higher.
In fact this correction is long overdue and has been expected for a long time. Now that it has come will it be sustained or just a healthy pullback for another push higher.
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