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Published on 09-30-2015 07:27 AM
European equities are set to start with gains this morning as we get a dead cat bounce before we plunge though this year’s lows. There’s nothing bullish out overnight to warrant this morning’s rise, just sellers and short sellers getting a little hesitant about hitting the button. Make no mistake, we’re heading lower; it’s just a case of when. The effects of China’s implosion are being felt as far and wide as Redcar, due to China's slowing industrial appetite for steel and their subsequent dumping of over production on the world market, all the way to Las Vegas as the former Chinese high rollers can only afford to play at the dollar stakes tables. All the pundits are suggesting attention is on this Fridays Non-Farm Payrolls and its influence on Octobers Fed meeting, but what traders should really be focusing on is Thursday’s Chinese Manufacturing data and its effect on the October Chinese Q3 GDP figures, it’s going to get messy!!
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