By Chris Becker
The earnings season in the US picked up the pace last night especially for tech stocks, with a slight rebound in industrials, lifting the whole edifice up slightly after the previous slump. Most of the action was in Europe as the ECB signalled the “do whatever it takes” shingle would stay up for as long as possible, including extending its bond buying. This sent the Euro down to new lows and stocks zooming higher, with the USD reasserting itself against the Aussie dollar too as it heads towards 76 cents.
Recapping Asia yesterday first where in mainland China the Shanghai Composite is up slightly around 0.25% higher to be at 3405, pipping just above the key resistance level that has been doggedly stubborn for so long. As you can see on the daily chart, price really wants to burst higher from this level, and if it closes out the week here, we could be on for a large run up higher to 4000:
