The ASX seems to be heading to the fourth down days in a row tomorrow. There are few factors at this moment that have the possibility of causing a correction; a combination of policy changes in the US on banking regulation, worries in Europe about the financial strength of Greece, concern that market need a rest after several months of bull run and unease about the Chinese economy (China's moves to rein in economic growth).
Things could get even tougher with the doubts over Bernanke's Re-confirmation. This doubt added to the selling pressure on Wall Street in late trading on Friday. Seems like we'll see a sell off if the US Senate decides to show Mr Bernanke the door.
From the latest news:
Jan. 24 (Bloomberg) -- President Barack Obama received assurances from Senate leaders that Ben S. Bernanke will be confirmed for a second term as Federal Reserve chairman, an administration official said.
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