By Chris Becker
Trump’s continued mishandling of well, everything, including the latest shutdown attempt is sending markets into a spin going into Christmas, with US stocks falling nearly 2% overnight. This takes the current correction into possible bear market territory, a great gift for all those who bought up big during Trump’s promised tax cuts that never materialised.
Recapping Asia’s session yesterday first where the Shanghai Composite was the best performer, down 0.4% to 2536 points as the previous support level at 2600 points becomes a distant memory, but at least it’s not falling as sharp as others. The daily chart is morphing into a bearish sideways pattern with no signs of an upside breakout:
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