» » Market Update Wed 07 Aug 19: AIM at 2019 lows: Gold Shines: Oil Slides: Burford Bombs. Big Caps in the Green..Just

Market Update Wed 07 Aug 19: AIM at 2019 lows: Gold Shines: Oil Slides: Burford Bombs. Big Caps in the Green..Just

  • As indicated yesterday, today proved to be a day in green with a relief rally from oversold conditions with the exception of AIM which was impacted by Burford’s sell-off, down over 60% at one stage before recovering slightly to close down 47%. A separate article and analysis of the Burford Bear attack is available on runprofits here
  • The FTSE 100 rallied back above the 200 MA but closed off its highs at an anaemic 0.4%: the US opening deep in the red did little to help UK sentiment.
  • The FTSE 250 closed up 0.5% while the TechMARK continues to assert its bullish bias rallying over 1% and remaining above its 21EMA.
  • The AIM All-Share was down -2.2% as Burford weighed on the index. Both the AIM 100 and AIM All-Share are at 2019 lows.
  • Oil has slumped over 4% at pixel down to $56 while gold has rallied over 2% to $1510 : a level not seen since 2013. Copper was up 0.6% while iron ore gained 0.4%
  • Market sentiment has shown an uptick in the US and European VIX scores as nervousness persist while the Yuan has moved to new lows against USD.
  • In the UK of the 1408 stock monitored, 603 dropped while 411 rallied and 393 were unchanged
  • The Fear & Greed index is at 20, a new low for 2019
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