Macro Morning

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By Chris Becker

The dip is not over as risk markets remain cautious going into earnings season, with many tech stocks falling overnight in antipication of Apple and Alphabet earnings, while the selloff in Treasuries continued. The USD sold off as well, except against Yen while oil prices came back after a brief pause.

Recapping action in Asia yesterday where in mainland China the Shanghai Composite keeps falling, not even stopping at support levels by closing nearly 1% lower at 3446 points. The daily chart below shows how support at 3400 is no longer a distant possibility as this correction continues:

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