No capitulation to speak of yet, though positioning remains defensive and markets continued to slide lower today. Major indices flirted with June lows (SPX=3636, CCMP=10,565), but they held, as it seems we are at an inflection point from a technical/psychological perspective. Shorts may be more incentivized to cover at this point, rather than establish new shorts and/or double down. Nearly all sectors found their way into the red, barring a few, which eked out minute gains.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.