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Markets Set for Steep Drop and Rapid Recovery

Thu 18 Aug 11 | 02:40 AM ET
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Markets Set for Steep Drop and Rapid Recovery

Thu 18 Aug 11 | 02:40 AM ET
"I could see a special formation known as a V formation a V shaped recovery and that means a step drop and a fast recovery and this formation started at 6,000 on the SMI and would end up at 6000. We¿re at 5,330 and the formation is still good as long as we don¿t break to the down side then the formation is not valid anymore," Daniel Stillhart, portfolio manager and technical analyst, LB Swiss, Frankfurter Bankgesellschaft Zurich told CNBC.
 
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