By Chris Becker
The inability of markets to understand mathematics – i.e the exponential function – continued overnight with a gorging of buying in stocks, culminating in 7% plus sessions on Wall Street even as the number of dead Americans pile up across the continent. European bourses surged too, even as Boris Johnson handed over leadership as he went into ICU, while gold soared to a new monthly high as inflationistas push the shiny metal higher. The bear market rally is upon us!
Looking at Asian share markets from yesterday, where the Shanghai Composite was closed but the Hang Seng Index gapped higher and closed up 2.2% to 23749 points, finally getting above its high moving average on the daily chart, indicating a breakout is underway and ready to get back to former support at 25000. Support is strong at the 23000 point level to support a rally up towards 26000 or so, the previous uncle point before this selloff:
