Jul

6

BullThe Tel Aviv 25 index is perilously close to the round number of 1000 but down a relatively subdued 1% from its Thursday close. The role of round numbers like this should be considered, as well as the attraction of round percentage declines such as 20%. Almost all European markets are down 20% to 24% this year: Germany -22%, France -24%, Spain -22%, Switzerland -20%, Italy -24%, Ireland -29%, Netherlands -22%, Belgium -27%. Only England and Denmark are down in the teens.

In this context I speculate it would be worthwhile to look at holidays as being inordinately associated with turning points, especially when they try to throw you off the first day following.


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