Thursday, February 8–Jim Wyckoff’s Morning Markets Report
World stock markets were mixed to lower overnight, following losses in the U.S. stock indexes Wednesday. U.S. stock indexes are pointing toward mixed openings then the New York day session begins. Serious near-term technical damage has been inflicted on the U.S. stock indexes recently, to suggest they have finally topped out for at least the near term.
In overnight news, the Chinese yuan dropped by around 1% against the U.S. dollar for its biggest daily decline since the yuan was devalued in 2015.