Spreadex Market Update
Equities come off mid-week highs
The heavy selling seen last night and this morning had participants running for the exits, banking solid returns from the past six months as they go. If those who are using this as an opportunity to buy are to be vindicated as the smart money, then the market ought to be seen to hold soon.
The FTSE 100, being dragged by the miners, is now firmly below 6,700 and still represents a very healthy year-to-date return. Just how far the market pulls back over the next 24 hours will be critical for sentiment.
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