Short-term market developments
David Fuller's view Briefly,
many stock markets show short-term overbought conditions following strong rallies
earlier this month. These encountered resistance in Europe
and the USA today and are susceptible
to a partial retracement of recent gains.
Conversely,
government bond prices and the USD
checked their recent declines today. Commodities
are susceptible to further contagion selling if stock markets pull back in a
volatile fashion.
Probable
short-term trend changes are discussed in considerably more detail in the Audio.