By Chris Becker
Not the best start to the week as US stocks put in scratch sessions and European bourses slipped as commodity prices climbed on the Chinese GDP print. Traders are waiting on the next round of corporate earnings and the slew of central banks missives this week, starting with the BOJ today and the ECB on Thursday as the USD remains under pressure.
Yesterday in mainland China the Shanghai Composite closed down nearly 1.5% lower to buckle below support at what was previous resistance at 3200 points. The daily trend was looking firm but momentum had stalled here, so the limited run up to 3300 may not have any legs as this sideways bear market continues:
