by Chris Becker
With no economic events to go on overnight, and after Friday’s rout it was a mean reversion “steady as she goes” trading session overnight, absorbing Chinese financial data and the volatility in the oil market to boot. US stocks eventually lifted, pulling up beaten down European stocks in the futures as bonds were sold off slightly. Oil staged a rebound as gold fell coming into this week’s Federal Reserve meeting.
Starting with Asia’s session where the Shanghai Composite lifted off from its good financial data over the weekend, finishing up 2.5% to 3520 points bouncing off support at 3400 points. I’m watching the former highs at 3670 points for signs of a confirmed breakout:
