Short covering wild moves

Posted: February 4, 2016 in Uncategorized

The markets are swinging like pendulums.

The US SP500 (even more the Dow Jones) stayed lower for almost all day and closed up.

These moves are driven by the tanking and then short covering rally from Oil. AND the the USD had a big sell off.

The latest rally has been dictated by Russia saying that it is open to discussion with OPEC on limiting outputs.

Also Dudley (Fed- New York President) spoke about a dovishness approach of the FED.

As you can imagine any news can make or break the market at this moment.

All points to violent moves quite characteristic of a market trying to find a bottom (not yet).

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