by Chris Becker
German stocks were the standout last night, buoyed by strong prints in factory orders and investor confidence, coupled with delusional forecasts from the ECB, while the rest of the risk complex faltered slipped and faded as King Dollar continued his return. US stocks were flat as energy shares were hit by big falls in WTI and Brent crude, while Chinese stocks slumped once more as it seems the writing is on the wall for the end of this bear market rally. Sell in May?
Recapping Asia where the Shanghai Composite fell nearly 3% again, falling straight to temporary support at 2850 points and ready to breakdown significantly as confidence evaporates. The target here is the previous level of support at ca. 2600-2700 points:
