As we look at the current developments in market sentiment, we all ask ourselves: Is the correction over? Today’s PMI developments in the largest economies have given us a glimpse into the sentiments of purchasing managers. This view did not present a very pretty picture, and most manufacturing PMIs declined. Further insights will be provided by TESLA results (post-market close). It will actually be the first major test of this week. The broader markets have already erased half of last week’s losses, and we can assume that bad TESLA numbers are largely priced in already. We expect that if the numbers are not worse than anticipated, the market will maintain its current levels and will be marking time until the crucial Thursday (macro day of the week).
Market sentiment development for this week:
Good luck!
