Its the start of the final month of the calendar year so here some of the latest institutional multi mkt considerations and YE strat.
UBSWealth-Dec14
commerz-stratwkly-04-12-13
A flash comment for my own book. I’m looking for a bottom in the cyclical sectors and indexes here. The IBEX has bounced in the last hour of a breakdown price point. It was a perfect trading entry, in theory. I would anticipate a re-test though of the level and even a slightly lower low is possible without correlating instruments breaking down as the markets are so thin. On the other hand the bounce is impressive and the dip down lasted no more than an hour in elapsed time. This indicates there are buyers at these levels. The reversal was swift. For sure we have increased volatility in the last 3 or 4 sessions and today yet more. So are close to an intermediate low, imo, for cyclical issues. For the wider s&p500 index there is likely a little more weakness to come over the next week or so before the index finds key support levels.
Rich