By Chris Becker
Risk markets remain teetering on the edge overnight with US stocks treading water, buoyed by a better than expected retail sales print, as traders work out what to do in the face of global recession fears. More stimulus from the ECB in September sent bond yields further into negative territory while the USD firmed against most of the majors, with gold still powering forward.
Looking at the action on Asian markets yesterday, where the Shanghai Composite rebounded following a significant gap down at the open, closing nearly 0.25% higher to be back above 2800 points while the Hang Seng Index finished with a flourish, up 0.7% to 25495 points. This puts it back near the recent daily lows from last week, but the daily chart is still spelling a lot of trouble ahead if it breaks below 25000 points proper:
