Markets are in risk-off mode as the media is spreading fear about the new covid variant. But everything is maybe just too pessimistic if we consider there are no deaths and no hospitalization for a new variant! However, markets do not like uncertainty so we are seeing a sharp sell-off on stocks, even commodities are coming down which is making a dollar, jpy and chf very strong. DAX is coming down but into some support at around 15k with five waves down, so rally can be coming in three waves. Resistance is at 15500/15450, where a new sell-off may show up, but only once we have an a-b-c rally.
Emerging markets are also showing room for further weakness. READ HERE
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