City PM TV: Daily market snapshot
With a strong move higher in US equity markets this week, signs of near term ‘greediness’ have been building.
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Usually, when levels of greed and complacency become elevated, markets then become vulnerable to the downside. Conversely, when fear levels are high, it pays to turn bullish. In this brief clip, we show how to ‘lean against’ those two key emotions, which are the most important drivers of near term equity market direction.
Today is relatively light on key events and data, which includes the Bank of England’s policy decision at 12pm London time and comments by Mary Daly (San Francisco Fed President and FOMC voter this year).