By Chris Becker
Coo coo catchoo. The Fed goes somewhat dovish in its latest meeting minutes, complaining about low inflation, sending the USD down sharply from its recent little high and supporting stock markets on both sides of the Atlantic. An upside surprise to the EZ GDP print helped as well. Commodities were mixed with oil dumping nearly 2% while copper rallied alongside gold.
Yesterday in mainland China the Shanghai Composite has slipped slightly, closing down a few points to 3246, keeping temporary support at bay above the 3200 point level. That level needs to hold as this market continues to slide sideways between obvious support and resistance:
