By Chris Becker
What correction? It seems stocks can’t actually fall anymore, unlike crypto currencies, with US bourses rebounding back to new highs. The catalyst this time was taxation as both Apple and Bank of America signalled savings and other chances in the wake of the GOP tax bill. European stocks retreated even as the Euro fell back slightly against the USD while the bond selloff continued with 5 year and 10 year Treasury yields moving higher.
Recapping action in Asia yesterday where in mainland China the Shanghai Composite has continued its advance above resistance at 3400 points, moving up 0.3% to 3444 points. It’s now surpassed my target at the previous false breakout high at the 3430 area during November and is looking set to start a new sustained rally:
