by Chris Becker
An eight year low in US unemployment on Friday night as the monthly NFP beat expectations and embiggened risk markets around the world. As Houses and Holes explains, this near perfect release gave the bulls the energy to ignite this bear market rally as the USD weakens its stranglehold on emerging market currencies and the majors. The Aussie dollar is in full “Too fast” mode as commodities also accelerate on the “everything is awesome” in the US/world economy meme. But how far can it go? Let’s stand back and look at the longer term charts in the usual Monday morning manner:
Recapping Asia’s week, the Shanghai Composite finished the week up nearly 4% with a tepid session on Friday. The deflating bubble has just paused here on its way down to 2000, finding temporary support at the 2600 point level:
