A much needed bounce after a torrid week although it feels more a case of selling exhaustion than anything particularly positive. UK MoM GDP showed a contraction of -20.4% in April (vs est. -18.7%) to continue the negative news flow. Note that leaves the UK behind the rest of Europe with the worst May survey. Volume wise it’s been a quieter session as investors lick their wounds. Lots of incoming on "where do we go from here". As always with that question the charts team a good place to start and while the 50dma have broadly held, it does look as though markets will continue to struggle to break through the all important 200 dma. Possible these big moves mean people sit the next few sessions out.
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