Macro Morning: Mad World

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By Chris Becker

Following yesterdays “mini-stimulus” by Chinese authorities, almost all Asian bourses rallied, with the Shanghai Comp up 2% and the Nikkei up over 1%, while the local ASX200 was dragged down by the worse than expected private capex figures.

The Nikkei is taking another step up into the stratosphere here, becoming seriously overbought on the dailies:

Chart Nikkei225, D1, 2015.02.26 22:21 UTC, VantageFX Pty Ltd., MetaTrader 4, Real

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