Yra’s room comments yesterday couldn’t have be more prescient.
We saw almost a full recovery in Index prices going into early London trade.
Europe went into risk off mode and still trading weak.
Bunds are into an area that I wouldn’t buy even with ECB’s money.
We’re in a trading environment waiting for the macro story to get sorted out.
Patience is needed to wait out chart patterns to see if they’re real.
We know what is required for an upside confirmation. Wait for it.