Asia-Pacific markets are set to fall on Friday, tracking Wall Street's losses overnight and giving up gains from the previous day.
Around 30% is currently trading above its 50-day moving average, close to the 20% range"worth targeting in uptrends," he wrote in a Thursday note. "The more important question on our mind is what character does leadership assume on any bounce and whether the pro-cyclical tone that has been so dominant for much of the last 6 months can resume? Discretionary vs. Staples has consolidated but is borderline oversold… important for this to respond affirmatively over coming weeks," said Verrone.
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