by Chris Becker
A big night in stock markets with a new month and renewed vigor for more stimulus from central banks, as the Chinese PMIs continue to slide, German unemployment remained tepid although the ISM manufacturing print came in a little bit better than expected. This translated into a weaker Yen, higher oil prices and a selloff in bonds which means – boom! Buy stocks! The bear market rally is on!
Recapping yesterdays action, the Shanghai Composite rose 1.7% after bouncing off terminal support at 2600 points. Watch out below if this tentative level is breached because the next support level is at 2000 points:
