Indicators are neutral but with the way the Chinese govt has been hammering businesses and coming up with new regs every weekend, I think it's probably gonna cycle to a new low instead of getting a bounce Monday.
Could go either way, no way to predict the Chinese govt. Short again when MFI gets overbought though, this isn't going to set a new high in the next decade, lol
Could go either way, no way to predict the Chinese govt. Short again when MFI gets overbought though, this isn't going to set a new high in the next decade, lol
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Appears I was right. RSI is oversold but MFI is not yet. Possibility of another drop Tuesday, but I'll update at EOD (US market).In case you're wondering what's going on, here's a really good post by another member:
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If the Chinese gov't doesn't bail out Evergrande we're gonna see Chinese ADRs crash. Only about half of them make a profit, and Evergrande default will make it virtually impossible for the companies to borrow money.The Chinese gov't been trying to kill big companies lately, so not really sure they're gonna bail anyone out. If Evergrande defaults, indicators don;t mean jack....
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What if.... China's foray into capitalism was actually a long term plan to destroy capitalism by drawing investment then tanking the market?It is a communist country after all....
I don't see them rescuing Evergrande, and a real estate crash is gonna make China look like 2008....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.