by Chris Becker
Did a day off for Aussie traders provide a relief to volatility? Not really as markets continue the rollercoaster ride that defines 2016 so far with a dip yesterday followed by a rally in shares overnight as Chinese markets crashed- again! Earnings from the US have not yet been disappointing, while consumer confidence figures for January show a surprising uplift. This may not be enough, although all the signs are there for a healthy bear market rally.
Recapping Asia’s session yesterday where the Shanghai Composite went into full crash mode, falling more than 6% breaking through the tentative support/bottom line at 2900 points. This is a bad sign that all support is gone and we’re likely on our way to 2000 points, the launch point for this epic bubble:
