By Chris Becker
US stocks battled out for confidence in, well con-men over the GOP’s tax cuts and tech stocks as gubernatorial elections in the US handed Trump and the Republicans a drubbing. The USD was effectively unchanged, but some of the majors are starting to find a bit more strength as Treasuries also fell. Asian stocks may rise in volatility today as Trump discusses trade with China as he continues his Asian tour.
Recapping Asia yesterday first where in mainland China the Shanghai Composite is just holding above 3400, barely up 1 point to 3015 where it needs to stay or there will a swift reaction to this potential false break. The daily chart continues to show a big bunch up of price at this level, but also a respect of the daily uptrend since the 3000 point low. Momentum remains positive, so this should continue here with my upside target at 3600:
