Euro Area PMIs released last Friday were weak, with the composite falling below 50 for the first time since January and the market now pricing in a greater than 50% probability of the ECB cutting 50 bps in December. The growing divergence between the economic outlook in Europe and the U.S...
The S&P 500 index (SPX) lost some momentum after setting an all-time-high earlier this week, and is now down 2.30% on the week, testing the 20-day MA. Should that fail, there is a strong chance, we see a test of the 50-day MA which has been a good support level since the sec...