Morning Report Monday 16 November 2015
Writing today's report is one of the most difficult of recent times as we think about the people / families in Paris and the degree of guesswork it creates within markets.
Most of the financial press is leading with stories along the lines of "shaky markets set to tumble" with the Paris terror attacks the clear catalyst for potential panic. All we can do from a markets’ perspective is stand back and consider the bigger picture facts:
The overall S&P500 medium term chart remains bullish targeting over 2200, but short term the current correction may still reach the originally targeted 1825 area, 10% lower - see chart 1.
The ASX200 has already corrected back close to its recent October lows making a break of the 4900 area support a strong possibility - see chart 2.
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