- 27 июня 2013, 19:40
- ZeroHedge. Alternative view on facts
The bounce off the 100DMA has been quite remarkable as a plethora of Fed heads have jawboned the S&P 500 up by as much in the last 3 days as the market rose in the first few days of the year. An almost 4% gain (amid collapsing volumes) has pushed the S&P 500 up to its 50DMA and for now (despite Dudley's best efforts) it is stalling at this technical support level (whuch just happens to coincide with a 61.8% retracement of the plunge from the FOMC). In other news, credit markets (having compressed/normalized the technical skews we have discussed) are selling off rather notably. Treasury yields are lower on the day though leaking higher into the European close and the USD is continuing to rise (led by JPY weakness for now).
Has left the S&P with its best 3-day run in almost six months...
A 61.8% retracement of the drop...
But credit is not buying it...