By Chris Becker
As expected, stock markets rallied following the near predictable result of the US mid-terms, although the post close resignation of Attorney General Jeff Sessions hasn’t been absorbed, neither the near insane press conference put on by Trump this morning. But it’s the sugar kick that was to be expected, with US stocks up nearly 2% and ready to rally going into Christmas, as relief sets in.
Recapping Asia’s session yesterday where the Shanghai Composite finished 0.6% lower at 2641 points, still just above key support at the 2600 level but unable to translate the recent swing gains into a proper recovery. The daily chart was starting to show signs of a real bottom , but price must maintain itself above 2600 here to translate that into a recovery rally so these little blips down are not helping:
