By Chris Becker
US stocks didn’t like the tightening attitude at the “new” Fed, with an expected rate rise but not hawkish enough attitude slamming the US dollar and wavering resolve around the punch bowl drunk stock market. European stocks fell because of the resultant rise in Euro, while commodities did better – especially oil – on the lower USD.
Recapping stocks in Asia yesterday where the Shanghai Composite was having a good session, peeking a little bit above key 3300 point level before selling off in the afternoon to finish only a few points lower at 3280. The market remains anchored here at 3300 with little chance of getting back up to my target at 3400 until its breached:
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