Aug 212015
Volatility should remain high as markets continue there search for fair value after changes in expectations of China’s economic growth rate. There are rumors of additional PBOC easing after weaker than expected Chinese manufacturing data. Major support levels were broken yesterday; it remains to be seen whether the down move will continue or there will be a snap back; no recognizable bottom has been put in yet. Size bias is long, they’ve been bargain shopping Globex.
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