By Chris Becker
Markets finally were given a green light by the Trump administration, which announced the first of many expected infrastructure stimuli, this one being effective removal of roadblocks for environmentally dangerous oil pipelines. This news sent the S&P500 to a new record high, lead by materials stocks and bonds were sold off. The positive mood also extended to Europe and with a mild selloff in Yen, the Asian stock market session today should be quite positive.
First to Asia’s session yesterday, where the Shanghai Composite eventually ground out a positive session, closing up a few points to 3142, still trying to build off of terminal support at 3100 points, which needs to hold. Momentum is not yet positive and the daily high moving average is not yet breached, so caution for now:
