Russian Rates Cut Again
Airtime: Fri. Mar. 26 2010 |
Russia’s central bank cut its key interest rates by 25 basis points Friday. Jochen Wermuth from Wemuth Asset Management considers the outlook for the Russian economy.
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Friday marked Day 4 of a new rally attempt for the benchmark S&P 500 Index and Day 2 for the other major averages. That said, as long Tuesday’s lows are not breached in the S&P 500, the window is now opened for a proper follow-through day (FTD) to occur. However, if at anytime Tuesday’s S&P 500 Index lows are breached, then the day count will be reset. What does all of this mean for investors? Simple, the market remains in a correction which reiterates the importance of adopting a strong defense stance until a new rally is confirmed. Trade accordingly.
