The negative performance of leading risk markets is clearly ruling the market action in different asset classes and given the dynamics behind the latest sell-off, there is likely more to come, says JP Morgan. "Projected targets for an indicated 4th wave setback in the S & P 500 are for example cutting in between 1761 and at 1690/58/34 (int. 38.2 % on 4 scales), which looks to be the minimum target for the ongoing setback," JPM projects. Reflecting that in EUR/USD, JPM sees a possibility of extending higher for a test of the key-T-junction at 1.2959 (in. 38.2 %) as long as key-support at 1.2569 (minor 76.4 %) is not ... (full story)