By Chris Becker
Another week of new record highs on US stock markets and fear of missing out is still winning versus fear of the subsequent and inevitable correction. The real fear remains in the biggest market in the world – bonds. While technically not yet in a bear market, all the signs are there that a large reversal is underway.
Looking at the longer term view on stock markets first, the Shanghai Composite has definitively closed the week above resistance at the 3400 point level after building support so long at the 3300 level. Looking to the left of the chart its easy to see that this bear market rally next target is now firmly 3700 points:
