It does seem like Syria and the Debt ceiling bombshell is hitting the US market confidence hard, just when it shows a bit of recovery last week. One problem adds to another.
At first, it was QE tapering. Then there is the treasury yield rise to 2 year high problem. Then today both Syria bomb uncertainty and debt ceiling issue is plaguing the headlines.
Debt ceiling issue:
With US having more questions and uncertainty, it does seem that local market will be affected. Today let us anticipate a selloff in Asia. Hopefully this Syria issue is solved without any brutality.
A few hints I am looking at for a stop to this slide:
1) 3 consecutive up days on the DOW
2) A triple digit up day
3) An up day on next friday , the non farm payroll report day which will decide the fate of the QE tapering