Worries over economic recovery reemerges again and in a big fashion too….but suspect just short term noise and getting ready for a strong 4Q. Strong earnings vs weaker than expected economic data. While the latter seems to creating wave in Aug, economy recovery is likely to remain intact…probably just not as fast as one’s wish.While lower both fbm.fkli showed strong resilience at 40 support, raising hope for a re bound mode ahead of the weekend. Europe gains, albeit small one, reverse the day’s sentiment. DJ +20 and regional finished off day lows.
A bounce in the card but enough to reverse recent trading sell ?.not this week and can expect a fight next week. With prices below short term SMA, mkt remains in bears grip.
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