"Mann International" - International Indices - (Equity Rally To Stall)

New York, NY (PressExposure) June 12, 2009 -- "Mann International" : The inability of the S&P500 to close above a key resistance level of 960 may indicate that the rally in global equities since March is about to run out of steam.

Rallies in key indices around the world have been hallmarked by an absence of volume in terms of number of shares traded.

"Mann International" analysts believe that a sharp reversal is inevitable and that this could have a dramatic effect on investor sentiment.

Recent economic data has shown that the pace of the recession in the US, the UK and China is easing. Far better-than-expected US non-farm payrolls data released last week showed that far fewer employers were shedding jobs and industrial production numbers out of the UK showed a modest improvement.

"Mann International", however, believe that the confidence exhibited by market commentators is ill-founded as home foreclosures in the US continue to accelerate and bond markets appear to be pricing in interest rate increases at a time when, clearly, US policymakers are unable to take any action that restricts the flow of credit through the economy.

A "Mann International" source said that the rising price of oil is also threatening recovery in the Western economies especially at a time when both the UK and the US are engaged in quantitative easing which has seen their currencies punished on the foreign exchange markets.

The firm has advised clients to avoid speculative forays into the key indices.

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Press Release Submitted On: June 12, 2009 at 12:27 am
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