By Chris Becker
The Trump positioning continues with warmongers now joining the cabinetry, with defense (sic) stocks soaring in the wake of an embiggened military-industrial complex pushing. Treasuries paused in their selloff overnight, with the USD remaining firm as Yen and Euro made new lows. Commodities are mixed with oil surging on the back of renewed speculation of an OPEC deal while gold remains in the doldrums as the Fed mulls interest rate rises as an early Christmas present for Trump voters.
Looking at Asian stocks first, where the Shanghai Composite came back slightly after being overbought recently on its new bear market rally. Yesterday it fell 0.1% to 3207 points with my next target at 3400 points still in sight, but a pullback to previous resistance, now support to 3140 or so would be normal:
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