Thursdays do tend to favour the bears, with equities opening moderately lower, seeing a morning low of 2661, and then rallying to 2689, negating half of the declines. The selling resumed in the afternoon, with the market seeing an especially ugly closing hour, settling at the lows.
Volatility naturally picked up, and accelerated into the close, settling in the 23s, the highest level since March 2nd (when sp'2647).
notable market: Germany, monthly
With five trading days left of the month, the DAX is -2.7% at 12100. Note the key 10MA at 12622. Another monthly settlement under that MA would merit alarm bells for Germany, the other EU markets, and to some extent... the US.
|No sunshine for the equity bulls|
Extra charts in AH (usually around 7pm EST) @ https://twitter.com/permabear_uk
Goodnight from London
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