Dead cat bounce or recovery in sight?

Was last end of week rally a dead cat bounce? Are we in for more heartache or have we reached a bottom? Will markets range trade now that January's lacklustre performance in risky assets to date has seen a number of investors bottom fishing, or would the tone set by the ECB in last week's press conference pretty much set the scene for the no highly-anticipated March ECB meeting? By definition from Investopedia, a Dead Cat Bounce is a "temporary recovery from a prolonged decline, followed by the continuation of the downtrend – frequently, downtrends are interrupted by brief periods of recoveries, where prices temporarily rise. A dead cat bounce is a price pattern that is usually identified in hindsight." Very difficult to say at this stage where markets are heading, what is sure is that following last week's ECB meeting, markets have a new target date to work towards. Following last Thursday and Friday's end of week recovery in prices, markets lost ground on Monday whilst Asian and European risky assets also posted losses early on this morning. At these particular crossroads, investors need to remain aware and alert that there has been no significant change in fundamentals,...

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