By Chris Becker
The follow through on risk markets from the solid NFP print on Friday night continues as a new bull market is appearing in US stocks with a Fed happy to feed the gains by holding off the interest rate accelerator (Model T Ford style, not Ferrari Volker’s style). Commodities were little changed however, while a fresh election in Japan is giving Abenomics new life, with speculation of multi trillion Yen stimulus coming down the pipeline sending the currency down against the USD and the Nikkei exploding higher.
The Shanghai Composite slid along doing not much of anything yesterday, still unable to close conclusively above resistance at 3000 points. This is a crucial level with the 200 day moving average and the March high catching up, to break the shackles of this long running bear market. Keep watching:
