The argument from bulls is that at present’s promoting has been triggered by quarter finish flows and window dressing however how assured can anybody be in that evaluation? Or that there is a scope for a giant bounce in This fall?
Certainly the worth motion in equities at present would not match with what’s taking place in bonds and FX so there is a affordable foundation for the assumption however there’s nothing like a 2.7% decline to the worst ranges of the yr to problem a thesis.
In any case, the technical image is not fairly on the break beneath the June low. That degree was 3636.87 and that would be the degree to look at into the shut.