Is china going to cause some trouble for equities in 2017?
This is interesting chart . Thought to sure. We are hearing news about dow 20000 everywhere. Market is very optimistic and bulls are all over the place. Looking at china etf ( you can check index if you want), looks like some trouble is coming.
Weekly chart tested the TL and got rejected. Price is also breaking kijun sen. There was also 200 sma there and price turned down.
Daily chart is breaking a key supp lvl. Future cloud turned down.
Liquidity is think now but when traders come back in jan, lets see what happens here. If china rolls over, we'll get some nice moves in aussie crosses too. Right now I am just watching it but my bias is bearish . Thought to share. Stay tuned for more posts on monthly charts later this year.
Have a happy and safe christmas. Enjoy some time with friends and family.
Weekly chart tested the TL and got rejected. Price is also breaking kijun sen. There was also 200 sma there and price turned down.
Daily chart is breaking a key supp lvl. Future cloud turned down.
Liquidity is think now but when traders come back in jan, lets see what happens here. If china rolls over, we'll get some nice moves in aussie crosses too. Right now I am just watching it but my bias is bearish . Thought to share. Stay tuned for more posts on monthly charts later this year.
Have a happy and safe christmas. Enjoy some time with friends and family.