A small comparison between the bounce of April 5 and today's bounce.
The April 5 bounce was pre-announced by a MF positive divergence on April 4. This also coincided with the JP-Yen dumping and what probably was the start of a carry-trade wave.
Today, the MF is rather flat (as of now.) We need to wait for the possibility of the afternoon price ramp-up.
We can see today that the Japanese Yen is bought (carry-trade unwinding?)
The T_Bonds are bought today.
All in all, this is negative for the market and indicate an equity bounce that is not dragging "regular" money.
Pascal
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