Tuesday, October 7, 2014

Ugly Close

After a gap down, indices traded sideways until early in the afternoon. Then everything got ugly into the close, with the major indices losing around 1.5%. Metals couldn't profit from the drop in stocks, and oil looks like another leg down is coming soon.

The euro on the other hand seems stable near the 1.265-level. It could soon bounce over 1.27, but will it be more than just a dead cat bounce? (so basically the same question as in indices a couple of days ago...)

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