By Chris Becker
The short sellers are getting wiped out as stability turns into dip buying overnight on Wall Street and in Europe rebounding solidly. US Treasuries fell slightly but yields remain super low while commodity markets firmed slightly on the better risk sentiment, with the Australian dollar coming back before selling off later in the session.
Looking at the action on Asian markets yesterday, where the Shanghai Composite played catchup, bouncing nearly 1% higher to 2794 points while the Hang Seng Index put in a similar lift, up 0.5% to 26120 points. This keeps it above the January lows at 25000 points and a new daily high, but still in trouble with the potential to overshoot to the September 2018 lows at 23000. I’m watching for a new session high and to get back above -200 on the CCI:
