Summary of Main Points
- Last Friday, China Industrial Production came in at 5.8%, less than 6% forecasted.
- China supports its market and support evidenced with double consecutive weekly long tail candlesticks seen on the ChinaA50.
- Sideways expectations after a move last week. Previous support becomes resistance.
- Thursday ECB interest rate decision, Italy and the EURO needs to be watched. Trump and Saudi Arabia might have tensions pushing oil prices up.
- There may be positive correlation SIMSCI with oil prices. For how long is anybody’s guess.