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Markets find support in front of key Janet Yellen testimony
In these battered markets, anyone with a positive persuasion will try and hang on to anything that might suggest a bottom is in place. Sadly I do not see one as being sustainably in place, even though near term support may be coming in. Wall Street was not sharply lower into last nights close, and whilst that might not sound much, with oil off over 5% on the day this is something. We are seeing Dollar/Yen and Gold forming some consolidation in their recent gains and it looks as though despite sharp losses in the Asian markets that were open (Nikkei down another 2.3% although that was as the market was playing catch ... (full story)