Originally Posted by
Baa_Baa
Let's not forget the NZX does respond to external markets. With the DOW and SP5 down Friday looking to test recent (tenuous) support, and the China markets having been closed late last week creating uncertainty, but re-opening on Monday (perhaps emboldened by celebrations involving their massive military might). The big international money in our market needs to and will make some decisions. Friday looked like distribution day, some up, some down, movement from risk to relative safety and vice versa, depending on perspectives. The pattern emerging locally is the footprint of the big money. There's no doubt the US markets have reverted down again from the dead cat bounce, so keep nimble in our antipodean backwater market, we are at the end of the whipping hose but also at the dawn of the global markets.