Obviously, the technicals took another big hit today, but due to the limit we were not able to set new lows. After seeing the stock market retest the lows from Tuesday and make a 600 point swing higher, there is a case for this being a long term bottom. The key now will be how the commodity markets rebound after breaking off the highs and if that will continue inspite of stabilized equity markets.
Demand remains weak and there are rumors that China may take additional holiday time in addition to the week of Chinese New Year.
marketing@alchempro.com
