The bounce that never seems to come
Written by Adam Button
May 17, 2012 at 12:27 GMT
by ForexLive
Sentiment continues to erode in a classic breakdown that leaks lower as traders wait for bounces. Bottom pickers continue to get squeezed and patient players begin to chase the momentum.
The odds favor a breakdown in risk assets before we get a strong bounce. The tape bombs to watch out for relate to bank runs/problems in Greece or the periphery. This market is also primed for rumormongers.
The best hope for a rebound comes from the US stock market. S&P 500 futures are down 2 points but claims could change that.
Written by Adam Button
May 17, 2012 at 12:27 GMT
by ForexLive
Sentiment continues to erode in a classic breakdown that leaks lower as traders wait for bounces. Bottom pickers continue to get squeezed and patient players begin to chase the momentum.
The odds favor a breakdown in risk assets before we get a strong bounce. The tape bombs to watch out for relate to bank runs/problems in Greece or the periphery. This market is also primed for rumormongers.
The best hope for a rebound comes from the US stock market. S&P 500 futures are down 2 points but claims could change that.