By Chris Becker
BTFD remains the strategy of choice in a ZIRP/NIRP world, even as PIRP emerges as a possibility around the corner. With everyone now on board with the “growth is coming” meme, stocks turned around last night with a rally on Wall Street after a tepid session in Europe.
Yesterday in Asia the Shanghai Composite is down 0.5% to 3173 points, where its just holding above local resistance at the 3150 point level. This local resistance has been set aside as it pushes up through the real resistance at 3200 points:
