Wall Street regained ground last night, with the S&P 500 finishing at record closing levels as better-than-expected weekly jobless claims and upbeat GDP figures reinforced the Fed’s accomodative view. A slew of post-close earnings from tech giants may upset the Apple (sic) cart to finish out the week later tonight though. Currencies were essentially unchanged as USD floated along while bond markets saw US Treasury yields up slightly. Commodities were mixed with oil spiking more than 2% while copper and iron ore pulled back from their decade highs as gold failed again to get through the critical $1800USD per ounce barrier.
Bitcoin is rolling over following its failed recovery rally that stalled out as it passed below the $53K level overnight, unable to match last week’s intrasession high as it comes up against four hourly ATR support for a proper breakdown:
Looking at share markets in Asia from yesterday’s session where Chinese markets saw a strong bid towards the close with the Shanghai Composite lifting by more than 0.5% to finish at 3474 points while the Hang Seng Index finally found some life and closed 0.8% higher to 293037, managing to escape resistance at the 29000 point level. Futures however are suggesting yet another pullback so this breakout maybe thwarted before it even started, because while positive daily momentum and the overall technical pictures continue to point to a possible bottom here, it really needs to clear the 29500 point ATR daily resistance level soon:
