By Chris Becker
US stock markets retreated late in the session on news that the Korean summit may not be going ahead, pulling the USD down with it as commodities remained relatively stable. The undollars like Euro and Yen lifted only slightly while gold was still depressed and steady. Treasury yields were also unmoved above the magical 3% mark as tensions continue to rise regarding the trajectory of US interest rates.
Recapping stocks in Asia yesterday where the Shanghai Composite gave up its previous gains to fall about 0.7% to 3192 points after recently getting out of the shadow of very strong overhead resistance at 3200. This could just be a stumble before attacking the 200 day moving average, so watch the low moving average on the daily chart for signs of continued support in this bear market rally:
