By Chris Becker
Ebullient stock markets are pushing aside bad news and a lack of economic prints to lift ever higher as money left safe havens like gold, Yen and treasuries to head back into shares, with the Dow Jones reaching another new record high overnight.
Yesterday in Asia however, the Shanghai Composite sold off again, down 0.5% as it remains below previous key support at 3140, now down to 3100 proper. As I said previously, this now clears the way down to the next level at 3000 – watch the 200 day moving average:
