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Aug 08 - 05:00 PM
USD: Rebound In US Stocks A Mere Technical Rally; No More Than A Bump On The Way Down - Nomura
First appeared on eFXplus on Aug 08 - 03:30 PM

Nomura Research discusses the current market conditions following up on its last week's call for an August volatility shock ahead of a crisis in September (see here).

"Speculative traders not aligned in their trading stances. US stocks finished yesterday (7 August) more or less where they started the session, although with some major ups and downs along the way...If key market indices fail to climb back above trend-chasers' major trigger lines (at around 2,960 for the S&P 500 and around 7,720 for the NASDAQ 100), then we would expect trend-followers that are currently sitting on unrealized losses (including CTAs) to start exiting their long positions in equities at a quickening pace," Nomura notes. 

"As of now, we see the rebound in US stocks as a mere technical rally that looks like no more than a bump in the road on the way down," Nomura adds. 

Source:
Nomura Research/Market Commentary

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