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China A50 holds its ground despite weak sentimentAU wages came in weak, The RBA hinted that they think they're done tightening in the minutes, The PBOC cut rates (again) and a slew of data from China once again misses the mark. And all in a 30-minute period! I think we’re fast approaching a phase where bets will be on for another round of stimulus. The China A50 is holding its ground above 12,600 and AUD/USD has managed to hold above yesterday’s YTD low despite the weak data. There’s a floor under these prices, and any rumours of stimulus could potentially light the bullish match for these markets to bounce. Economic data from China continues to disappoint, with retail sales, industrial production and fixed-asset investment data all missing the mark today. This follows on from disappointing trade figures for Q3 with imports and exports contracting at a much faster pace than feared, and loan demand falling to its lowest level since 2009. Yet somehow, the China A50 is still holding above the 12,400 base it formed in Q2 (despite negative headlines) before falling on news of stimulus. Are we about to witness a similar scenario? Perhaps. The PBOC announced that they have cut rates for a second month in three, a move not expected by the majority of economists. But it does suggest there is some panic, and with that comes hopes of more stimulus. If a market can’t go lower on bad news, it may not take much ‘good’ news to help it rally. A bullish hammer formed on the daily chart on Monday and prices are holding above its low despite the negative sentiment. We therefore see the potential for a rally to at least 13k, either on hopes of stimulus (or confirmation of it).
FOREXCOM:CHINA50Long
by CityIndex
China A50 holds 12400 with conviction. Bullish breakout pending?The China A50 trades within a bearish channel on the daily chart, although we strongly suspect it wants to break out of it to the upside. If you look at the steady stream of weak data coming out of China over the past few months, why is the China A50 not breaking to new lows? In fact, each time the market has pulled back to the 12,400 area since early June buyers have stepped in. And they returned in force yesterday to produce a strong bullish engulfing candle at support. Bulls could either wait for a break of the 12,857 high to confirm breakout. But if confident that some sort of ‘plunge protection team’ is defending the 12,400 level, any pullback towards it may prove to be a gift for bulls who are anticipating a countertrend breakout.
FOREXCOM:CHINA50Long
by CityIndex
CHINA50 CN50 Short Bears Remain in ControLike Hong Kong 50(See the Idea here bearish start to the week, with hawkish central banks and growth fears continue weighing on investor sentiment ahead of a busy week. The theme remained the same, with investor jitters over the economic outlook weighing on investor sentiment. There were no economic indicators from the region to change the mood. Market Overview It was a bearish morning session for the Asian markets. The ASX 200 led the way down, with the Hang Seng and the Nikkei also struggling. The Asian equity markets tracked the US equity markets into the red, with fears of central banks sending the global economy into a recession weighing. Hawkish Fed Chair Powell testimony continued to resonate this morning. Last week’s Bank of England 50-basis point interest rate hike was a reminder of central bank commitments to tame inflation. Despite softer US private sector PMI numbers on Friday, the markets are still betting on a Fed 25-basis point interest rate hike in July. According to the CME FedWatch Tool, the probability of a 25-basis point July Fed rate hike stood at 71.9% versus 74.4% one week ago. Significantly, the chances of the Fed lifting rates to 5.75% in September stood at 11.5%, up from 8.9% one week earlier. Bank stocks also had a mixed morning. HSBC Holdings PLC and The Industrial and Commercial Bank of China (HK:1398) saw losses of 0.33% and 0.24%, respectively, while China Construction Bank (HK: 0939) rose by 0.40%. Strategy Bearish Short RSI confirming permanent trend continuation Bulltraps can be used to sell more and stronger Trendlines shold be used in 2 ways: bearish breakout of the trendlines should be sed to new bearish enries or position sizing only. Bullish breakouts should be used as profit taking or trading the 2nd wave only. Bullish breakouts are often traps.
CAPITALCOM:CN50Short
by DaveBrascoFX
1
China A50 index to fall below the 500-week moving average?China A50 index ( CN50 ), a measure of the Chinese onshore market that keeps track of 50 of the biggest Chinese A-share companies listed on the Shenzhen and Shanghai stock exchanges, broke a major upward trend that had been in place since 2016. The technical picture sees the A50 index currently dominated by a descending channel pattern, having fallen 42% from its peak in February 2021, with prices now approaching a remarkable 500-week moving average. Given the slowdown in the Chinese economy caused by the government's Zero covid policy, the downward trend in Chinese stocks has been ongoing for a while. However, the most recent sell-off has been triggered by a crumbling confidence among foreign investors as a result of Xi Jinping's reelection as president for a third term and a leadership reshuffle within the Politburo Standing Committee during the 20th National Congress. The A50 index may not have reached its bottom yet, if the Zero-Covid policy and growing doubts about the new policymakers' plans for the country's economic future continue to dampen Chinese growth prospects. Even though the weekly RSI is beginning to exhibit extremely oversold conditions, which is extremely unusual for this market and hasn't happened since August 2011, bears still have total control over the index. But, given the wild price swings of the past few days, some technical and short-term price bounces could still happen. The psychological 11,000 point level, which is down 7% from here, and the 10,200 point level, which was the low of January 2019 (down 14% from here), provide the next significant supports. The A50 will have dropped 50% from its peak if it reaches levels from January 2019, which might encourage some dip buying there.
CAPITALCOM:CN50
by Capitalcom
SSE Shanghai Composite W1 topped w/ a diamond? W2 comingThis China index confirmed its completion of ABC when lockdown ended & their economy resumes. It has risen so much from the ABC correction low of 2888 & we may see wave 1 topping out with a diamond reversal pattern. As seen in the past 2 times shown in chart, a diamond can be either a reversal or continuation pattern so proceed with caution. Reasons why I see this as a reversal: 1) index has already risen 500 points (2888 to 3388 completes the 5 sub-waves of wave 1) without any major retracement. 2) price was rejected exactly at wma 50 & an anchored VWAP from 3300 bottom of July 2021 3) price was rejected at the 2015 red trendline 4) price has reached the 1.272 FIB retracement of the most recent leg down (an ideal spot for abc zigzag retracements) The 2 most probable supports (the 2 yellow zones) for the wave 2 correction are: 1) the 0.383 FIB near the 3100 to 3200 pivot zone 2) the 0.618 zone near 3100 If wave 2 is shallow, then the future wave 4 may be a deeper correction like 61.8% or 78.6%. Not trading advice
SSE:000001Short
by xtremerider8
The SZSE Component Index 6/5/22The SZSE Component Index is an index of 500 stocks that are traded at the Shenzhen Stock Exchange (SZSE). It is the main stock market index of SZSE. Price reached Fib ( 0.618 ) Price reached Weekly FVG Good opportunity of long position. +41.5% if price reached first red line Good Luck Trader💯💯 . . . . . . 🧅Disclaimer :There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, and money market funds involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. This is Not Financial Advice 🧅JUST AN OPINION OF THE ONION.🧅
SZSE:399001
by MLGONION
SSE China bottomed@2863;may retest it before an abc to 3500SSE china composite index may have already bottomed at 2863.65 in April. It is now at my yellow pivot zone. It may go back down to retest the low. 2888 is a very impt FIBO level, exactly @0.786 retracement & is also coinciding with exactly 0.236 of my Fibo strategy on 2 separate retracements. It is highly probable that SSEC may rally on early June. It may reach 3300 in early August before a long consolidation above the yellow pivot zone before another rally in early Nov2022 reaching as high as 3500 In 1Q2023. (A zigzag move) If we see the Macro view in weekly Chart, SSEC actually finished wave 2 in 2005 at 1008.60. From there it zoomed up to 6124 ATH in Oct2007 just before the 2008 crash. From these 2 points it is actually making a very big wedge that is the big & long wave 4. The apex of this wedge has a definite destination. GUESS WHERE: exactly at 3500! It will whipsaw above & below the 3300 to 3500 zone for a while. It may reach as high as 3740 to 4000 before it finally breaks out of this BIG WEDGE to start the final wave 5. Time to shine after zero-covid accomplishment. Not trading advice
INDEX:000001Long
by xtremerider8
HSI Index - Worse than the 2008 financial crisis?The Chinese stock market crash may be worse than the 2008 crisis! Fundamenta Aspect Everyone is concerned about the decline in the value of Chinese companies' stock and the resulting decrease in demand for commodities! Today, selling pressure on Chinese stocks grew. China's major stock index fell to its lowest level since 2008 due to concerns about its relations with Russia and tighter regulators pressure. The Hong Kong Index of Chinese Companies, a measure of Hong Kong stock prices for Chinese firms, declined by 6.6%. Likewise, the stock prices of Chinese companies dropped sharply the day before yesterday, since July 2015, this has been the largest fall. Economic sanctions against China are a concern for the market due to China's ties to Russia. Concerns have also been raised about the quarantine of Chinese cities. Analysts are concerned that this time around's financial market catastrophe could be even worse than the one that occurred in 2008.
TVC:HSI
by VipForexLive
$SOS #stockmarket #live #news #business #trading #stocks #stock SOS Limited, a technology company, provides marketing data, technology, and solutions for emergency rescue services to corporate and individual members. It operates SOS cloud emergency rescue service software as a service platform that offers basic cloud products, such as medical rescue, car rescue, financial rescue, and mutual assistance rescue cards; cooperative cloud products, including information rescue center, intelligent big data, and intelligent software and hardware; and information cloud products, such as News Today and E-Commerce Today. The company serves insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security providers, senior living assistance providers, and other service providers in the emergency rescue services industry. SOS Limited is based Qingdao, the People's Republic of China
NYSE:SOSLong
by BADQOMOCAWGOWLD
Shanghai Index: Buy the pull back.The Shanghai Composite Index has seen a considerable rise since the start of the year, which we predicted in December ( ). The parabolic rise on 1D has reached past the overbought zone (RSI hitting 80.000) and as it got close to the 0.500 Fibonacci retracement level (3,015), we should start see it consolidating. The strongest candidate for a pull back however is the 0.618 level (3,150). We are willing to buy any such pull back and target the 0.786 level at 3,340. See below how we predicted this +22% rise in December: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
SLong
by InvestingScope
6