June 2015 – Markets: where are we now?

Posted: June 9, 2015 in Uncategorized

As discussed in April, the markets have lost quite a bit from their April Highs – on average 8% and the Australian mining sector is actually testing the 2008 lows (!!)

So where are we at now?

Apart a Black Swan, we are close to the bottom. The negative forces are still there, but we could start to see a bottoming process.

The ASX has a clear support at 5,200/5,100.

SP500 US is currently testing the strong support 2,070/2,080 – but it has quite a lot of support around this numbers…2,040 and 1,980

Europe (not UK) is weak as a consequence of the continuous Greek stalemate.

China let off a bit of steam …but has the characteristic of a blow off market (the issue is that China is completely manipulated by the Government who needs  a “good market” in light of the IMF meeting in October)

Japan has a bit of weakness.

Volatility is within range.

So we are still in a weak moment, but aside surprises – all within parameters.

The potential surprises to watch out for  naturally are the bond market and Greece.

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