By Han Tan, Market Analyst at FXTM
The rally in global stocks is taking a breather before the weekend, having posted a new record high on Thursday. Most Asian benchmark indices are in the red, while US equity futures are dipping slightly.
Friday’s pause appears warranted by technical indicators, seeing as the 14-day relative strength index for several major benchmark indices from Hong Kong’s Hang Seng index to the Nasdaq Composite index have moved into overbought territory.
Perhaps investors are taking a moment to consolidate their...