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Was interesting @PandaFace, even more so now as people realised Trump was only discounting the most severe response  to China (for the moment), not actually halting the 'trade war'. Bounce off th


Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

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Oh Tom, Reuters is being negative :(


"Correction Fears Are Mounting" (1156 Gmt)

Here is an interesting feedback from Barclays' equity strategy team, which reported that sentiment is not that bullish among investors.

"As markets have turned decidedly more risk-on, correction fears are mounting among many investors we speak to", the strategists write in their latest note.

So what's troubling these investors?

"A few technicals look stretched, with RSI (Relative Strength Index) outright overbought for S&P500 (but not for SX5E), Put/Call ratio back to the lows and looming negative September seasonality, while U.S. elections, jittery bond market and second virus wave in Europe are potential headwinds", Barclays says.

Anyhow, their strategists remain quite confident even if one can never rule out a sudden change of trend.

"We remain of the view that the unwind of the massive flight to safety seen ytd is likely closer to the beginning than the end, and that the still light positioning as a whole provides positive asymmetry to equities".

Here's the RSI showing how the S&P is arguably overbought and how the EURO STOXX 50 isn't:

(Julien Ponthus)


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Observe the divergence between a rising price and the positioning of big speculators in the bottom row.  Does this explain why the 'professionals' are so salty about 'millennials' and are desperate for a market crash to wipe out all the retail clients?  So that they can retain their privileged status ...


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