By Chris Becker
A rotation in risk assets – from tech stocks to bank stocks to Treasuries to non-USD currencies – is causing increased volatility across the board, with the first and last dragging down stocks on both sides of the Atlantic. A stronger Euro sent European stocks to new weekly lows, while US stocks retreated from the previous session high, setting up for a turgid session here in Asia today.
Yesterday in mainland China the Shanghai Composite closed 0.5% higher to 3187 points, taking back its previous losses and 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:
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