You could be right.
I was checking the price of the new Iphone over here in Thailand the other week and they were 32,500 baht, which equates to around AU$1,400.
30,000 baht is about 3 months worth of wages for the average unskilled worker..
Oppo & Xiaomi also had similar looking phones in terms of screen size and resolution for about half to a 1/3 of the cost.
On the economic data front, German Industrial Product fell way below estimates, and was the lowest YoY reading since the GFC..
After a quick sell off, the DAX futures rebounded strongly, just like the rest of the indexes did.
I think this is based on the likely positive outcome from the US, China trade talks..?
Based on the strong rebound to some quite bad economic data and also other smaller 'bad news' stories around the world, I would say there should be a decent bounce after the trade talks (if it hasn't already been priced in?).
Hopefully for the bulls it has some follow through.
It has probably been better to be long here but maybe just on intra-day trades because of the large unpredictable trading that happens in the US overnight.
The market does appears to be back in a somewhat risk on mode..
Up day volumes are still a little light though and have all mostly been below average (especially compared the selling days) over the last couples of months of volume, something to be aware of.
The market seems to be driven by news at the moment as the economic data isn't really having the impact it once did over the previous months.
If the trade talks do have a positive outcome then it may be wise to take some profit off while the market is up.
That is unless there's another 'positive' news story/event that could top the trade talks and keep momentum going (I can't think of any at the moment?)
The market could start to roll over again from this lack of momentum/direction..
(20min delay)
