@Qw - the volume is not yet that of a bull, but if u look at some counters, the volume is coming back silently.
PPT did a tough job preventing mbritank from closing heavily down on a day when no limits apply. They'll jerk this one up!
The RSI at 13 with index at 3357 calls for bounce. I expect 3500 to be tested as I stated on Wednesday. But since volume is still bearish, the index still has room to test 3000 after the bounce.
I'm not amused by brent oil @$115 even with the latest panic central turmoil. Euroland & US will re-enter recession, but brent has refused to nosedive! KE will still have a high energy bill
If the telcos hike call rates, airtime also affects inflation rate. Food costs must come down by at least 50% for a substantial inflation rate relief. Also fx exchange rates need to stabilize asap. Still a lot of deadwood to deal with before the market sees a mature bull charging back.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!