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Quiet news day but markets could still go either way
Tuesday 28 May 2013
Quiet news day but markets could still go either way
By Ric Spooner (Chief Market Analyst,
CMC Markets)
Although one should never take markets for granted, today looks like being a quiet day without a lead from US markets and with no significant economic releases scheduled in the Asian time zone.
The greatest market risk today looks to be to the downside. In the absence of news it seems less likely that we will get the kind of catalyst necessary to attract buyers back to the market in volume at current valuations. On the other hand, it’s not impossible that recent downward momentum could feed on itself even without a news catalyst. Further weakness in Asian markets and ongoing selling of “yield” stocks like banks and large retailers on the local markets is a possibility.
ends
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