Monday went pretty much as planned with everything risky fading again. After the $5 rally in oil it makes sense to give half of that back and indeed the indications of no rally from China yesterday were followed through with a dump there today.
Which leaves things looking pretty grim for prices into European open, with little to see out there to change the down pressure other than price itself. Yesterday's plan was to look for a down day followed by a return higher today yet looking at momentum and mood, what with China acting as a peg to hang your bear hat on, it seems hard to imagine ait occuring as I write. But I am going to stand by that call and look for markets to base somewhere today and resume an up leg.
There is little to back the idea of a turn higher from the ‘new news’ front but my A.I. neuro-algorithmic market timing model is saying it goes higher. What is my AI neuro-algorithmic trading model? It’s an organic base of billions of flexible self linking quantum driven multilevel units each self optimising to search for the most efficient data processing network using a complex set of feedback loops based on multi-particle based transmitters. Yes. My Brain.
So whilst some feel that financial schisms directly lead to economic downturns I will keep calling this a financial overreaction to a potential economic problem rather than a critical economic problem being rightly reflected by current market moves.
"Price in Risk please”…”MINE"