Right after Wednesdays 2.5% robust rally for American markets, quite a few were ready for a touch of correction, particularly as futures had been suggesting a lower opening. In spite of this, cash buyers had been once again out in push as rumors involving rocky trade plans, further tariffs as well as next month rate hikes were mostly pushed aside.
Of course, we didn't see the push for stock we all witnessed on Wednesday; however the demand has been present none the less. Following a small plus 0.25% late afternoon rally, all of the main indices closed just a touch smaller across the market board.
US Treasuries maintained in nicely and in many cases saw short-covering within the long end once the market feels a one along with being done for December with only one interest hike being priced-in for the next year. Let's wait and see what we will hear from G20 meeting instead of speculating!
Bitcoin currently is on the verge of testing the Key Resistance $4532 in steeply declining Step 3 leg. The crypto is presently on a short-term Dead-Cat-Bounce rally in our trading model, however as we mentioned before, the long-term set-up still warrants ultra-short-term trading positions within the most critical crypto coin, with stringent money management.
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