By Chris Becker
Well earnings season isn’t going as planned in the ‘States with weak results across both industrials and tech stocks sending the markets down the most in nearly two months. This lack of confidence is also hampered by the disarray with the Republican party as the likelihood of an increasingly stalled domestic economic agenda increases. Treasuries and gold lifted somewhat as a result, but risk is looking shaky from here.
Recapping Asia yesterday first where in mainland China the Shanghai Composite has lifted slightly, up 8 points or nearly 0.25% to almost close at 3400, a key resistance level that has been doggedly stubborn for awhile and closely watched by all! . This continues to drag out as you can see on the daily chart below into another sideways wait and see mode:
