Bears did not waste their time; they are ticking every box that comes on their way.
The bloodbath in small and mid-caps continue, no headlines made, but the victim is sure to be the liquidity.
What is laughable is the excuse of Japan Interest rates as the cause for our Market fall, they will print anything as long as you are willing to read. It is not the markets that fell, but the story writers who hit new low.
On the long term, the fall is surely a healthy sign, removes any large moves in panic mode, prepares for a show higher later. Or is it that the POLL is not one way and thus the markets are re-positioning who knows.
Tax collections higher, will get no traction for the markets. BOJ ends its 17-year policy. Have seen this too in my lifetime kind of moment. Yen falls, Dollar Gallops, Equity in Europe and US remain robust. Japan Holiday today.
Australia keeps rates unchanged, Europe ZEW sentiment tad better, Canada inflation softer.
UK inflation and PPI report later in the day. Important to watch is FOMC, the Economic Projections and more importantly the press conference.
From the Technical point of view, the price action yesterday closed near important support, the Jan open and end. This is around 21780. Ideally this should hold for a dead cat bounce. Another way of looking at this is adjustment ahead of FOMC. FII and DII numbers are positive, while the sentiment remains on the edge.
For the day focus on 21780-21930 should work.
The bloodbath in small and mid-caps continue, no headlines made, but the victim is sure to be the liquidity.
What is laughable is the excuse of Japan Interest rates as the cause for our Market fall, they will print anything as long as you are willing to read. It is not the markets that fell, but the story writers who hit new low.
On the long term, the fall is surely a healthy sign, removes any large moves in panic mode, prepares for a show higher later. Or is it that the POLL is not one way and thus the markets are re-positioning who knows.
Tax collections higher, will get no traction for the markets. BOJ ends its 17-year policy. Have seen this too in my lifetime kind of moment. Yen falls, Dollar Gallops, Equity in Europe and US remain robust. Japan Holiday today.
Australia keeps rates unchanged, Europe ZEW sentiment tad better, Canada inflation softer.
UK inflation and PPI report later in the day. Important to watch is FOMC, the Economic Projections and more importantly the press conference.
From the Technical point of view, the price action yesterday closed near important support, the Jan open and end. This is around 21780. Ideally this should hold for a dead cat bounce. Another way of looking at this is adjustment ahead of FOMC. FII and DII numbers are positive, while the sentiment remains on the edge.
For the day focus on 21780-21930 should work.
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