I think an Elliott wave formation (p.87/89 ) has just finished and there will be a substantial rally despite the bad news that abounds. The market has a habit of confounding us all, and especially all the commentators. In fact it may go on to make new highs this summer before doing what I think it will do and crash in the autumn.
Investor sentiment is bouncing between extreme fear and extreme greed and the next leg will probably be greed as previous sellers try and get back into the market
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