By Chris Becker
US tech stocks may be ringing the bell at the top of the reflation trade with European markets and Pound Sterling continuining their drag down on the UK election fallout. The political fallout in the US maybe finally starting to weigh on shares, as the FOMC decision bears down in only two days time alongside a slew of other central banks this week itching to get off the easy policy train. Unfortunately, fiscal policy is yet to catch up!
In mainland China the Shanghai Composite closed 0.6% lower to 3139 points, retracing somewhat after trying to build on its breakout above key support at the 3100 point level. The daily chart’s bullish double bottom pattern is remains firm to see 3200 as the first upside target:
