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<p>Early buying and selling confirmed some resilience in equities however that's rapidly evaporated. The promoting picked up after the gentle US companies PMI and that's attention-grabbing as a result of it signifies that the bad-news-is-good-news narrative is failing. That's as a result of the Fed seems to be decided to hike regardless of mounting indicators of a slowdown.</p><p>Stated one other approach, the market is rising extra apprehensive a few harder recession.</p><p>Technically, this appears like a head-and-shoulders high with a goal at 10,400, or one other 3% decrease from right here. I can definitely see a case the place we shut close to the lows of the yr.</p>
This text was written by Adam Button at www.forexlive.com.
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