Overall we find it hard to have much faith in these rallies and see them as being driven by liquidity issues rather than fundamentals, but as we have seen before these moves can last a long time and go a long way.
In such circumstances we have to rely on the charts more, these show powerful rallies, but are looking overbought in the short term, with a number of the short term technical indicators turning lower, although the medium term ones remain bullish. As such we would not be surprised to see prices pull back, but that might just mean they consolidate for a while, rather than drop back to earlier levels. We should get a better idea how sentiment has changed later next week once China has had time to adjust to recent developments. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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