If you thought that a week ago the markets were overbought, think again. We are nearing the previous 2010 high, and we can expect resistance at that level.Today is the end of the quarter and also end of the reporting period for unit trusts and related funds. Around this time one should be on the lookout for "window dressing" by investors.
What happens is that a lot of buying action is seen so that fund performance will look good, only for investors selling their stock the day after to limit their exposure.
Jobless claims is out at 14:30 as well as the final quarterly GDP figure. Ben Bernanke will start his speech at 16:00, which usually also influences market sentiment and direction.
Expect volatility to rise pre 14:30.
Safe trading
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