by Chris Becker
Talk about a fun filled day with the local CPI print causing a big false breakout in Australian dollar, while Yen was sold off strongly on news on a quarter of trillion USD stimulus package planned by the new Abe government. This sent the Nikkei soaring up nearly 2%, while in China the Shanghai Composite has slumped, currently trading down over 2% and below the critical support level at 3000 points:
This rejection of overhead resistance and the 200 day moving average is not good news and will see the market possibly fall down as low as 2850 points.