Market Snapshot – Stocks Move Higher

Stocks Buoyant

The stock markets have generally been bullish over the course of the day. The markets had been under pressure over the last week on the back of news that the war in Syria was likely to escalate much higher due to the intervention of the US and other countries. So, the investors stayed on the sidelines and decided to opt for a wait and watch attitude to see how far it falls and also to ensure that they can buy stocks at some cheap prices. Over the weekend, the US did launch missiles on specific targets but this has not impacted the markets too much. This is due to the realisation that this action from the US was likely to be one off and also this action was well anticipated all across the markets. With this risk out of the way for now and with the retail sales from the US coming in stronger than expected, the stock markets are expected to move up in the short term. The US stock markets are set to rise higher and this is likely to buoy the other stock markets as well and this would last for the short term.

Cryptos Correct

The crypto market is undergoing some correction as of this writing but we believe that this is some healthy correction after the large uptrend that we had seen in the markets over the last few days. Even over the weekend, the BTC price broke through the $8000 region and rose higher and it seems as though the bulls are firmly in control. Of course, a slight correction was always on the cards and this is true for any kind of trend and that is what we are seeing now. We expect the fall to be stopped by the buying around the $7800 region which should then see the demand coming back in and the prices moving higher again.