By Chris Becker
The rally isn’t over but it has to have a breather from time to time and that’s what happened overnight with US stocks falling slightly alongside their European cousins, while Treasuries advanced and gold remain elevated. In data, housing starts and initial jobless claims both came in lower than expected but this wasn’t the catalyst, just buying exhaustion.
Onto Asia’s session yesterday, where the Shanghai Composite lifted another 0.5% building above 3200 points, to finish at 3229. Support at 3100 points remains solid, and momentum continues to build here for an attempt to breach the 2016 high at 3300 points:
