Recapping The Market: What's next?
The US indices recovered well having a 7-day unbeaten streak following the short sell-off which sent global equities lower.
European as well as Asian indices have been lagging US stocks, due to the fact United Kingdom election abruptly changed to be in question, whereas the Manchester terrorist strike furthermore contributed on nation's emotion.
The surprise Chinese downgrade by Moody triggered a showdown between traders (sellers) as well as the “Invisible Hand” from the Chinese authority, due to the fact unfavorable downgrade story has been pursued by quite an apparent intervention from the People's Bank of China.
Given that fewer and fewer stocks are participating in the US market rally, a much deeper market correction is far more probable, even though short-term strength continues to be bullish.
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