Market Review We had a long bias on Friday to follow the seemingly unstoppable climb higher but unfortunately the entry level was too aggressive given the macro news. The University of Michigan consumer confidence data came in at its lowest point since December 2011 and this led to the S&P dipping to test trend support at 1549 and so stopping out eh strategy. The index then staged yet another resilient bounce as bank stocks in particular out [performed following the Fed’s stress test
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Cleary the focus to day is squarely on Cyprus