![]() Meanwhile, on the technical front, the index has also posted a bullish hammer, further suggesting that we have bottomed for now. ![]() To add to this, invasions (or US intervention) have typically represented an opportunity for bulls, which thus far, appears to be no different. Of course the situation remains fluid and sentiment can change on a whim from headline to headline, however, with multiple assets such as gold and oil, also posting sharp reversals, it may be the case that the S&P 500 has put in a bottom in the short run. Remarkably, the S&P 500 is on course to eke out marginal gains of 0.3% after a sizeable reversal from Thursday’s cash open, followed by a continued recovery during Friday’s session, aided by reports that Russia are ready to send a delegation team to Minsk for talks with Ukraine. The question worth pondering after Russian President Putin announced a full scale invasion of Ukraine is, did we hit peak market panic? Geopolitics continues to drive much of the volatility across financial markets and will continue to do so in the near term.
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