Resilient yen, China raise reserve requirement to drain cash from the economy send asia stock down
The stock market is under pressure to come down. As you can see in the US market yesterday. Yesterday is Colombus day. The bank are having holiday. So the trading volume is light.The market move side ways for most part of the day and it went down and then recover at 4pm EST. If the market is really going up, this kind of scenario rarely happen. It would move up gradually.And trading volume is thin, which mean that anyone that have a hugh capital can manipulate the prices to go up or down.
Now you are seeing the market trending lower, due to earning report coming in and FED minutes at 2pm EST. Investor are cautious about it thus stay at the sideline. The main reason is still the Dollar.When the Dollar is up, the market will come down, when the Dollar is down the market will go up. Today we see the Dollar moving higher. So you too witness Gold is down, commodities like crude is down.
My forecast say the same.(as posted as my previous posting)
Stay tune
