By Chris Becker
US tech stocks are dragging down risk with the broader S&P500 pushed down nearly half a percent in a poor start to the week in absence of any good economic or geopolitical news. A new round of earnings for US stocks is now underway as traders also await any news surrounding Trump’s tax “reform”. European stocks were slightly better off as the Euro dived again on Spanish imbrolio’s surrounding Catalan while commodities were stable.
Recapping Asia yesterday first where in mainland China the Shanghai Composite scraped out a slightly higher close to be 0.1% higher at 3382 points, still not quite through that key resistance level above at 3400 points. This is again dragging out as you can see on the daily chart below into another sideways wait and see mode:
