The Shanghai Composite is making its way towards big overhead resistance! Would be bullish if it could break through this resistance zone!
www.bloomberg.com China financial system is having tremors, Hong Kong clampdown, India border clash, chest beating in the South China Sea, rhetorical tensions ramped with "China Flu" dogwhistles. S&P follows $SHCOMP's lead to a very impressively green Monday. But what on earth is going on over there? And don't get me wrong, I know what you're going to say - "The...
Shanghai Stock Exchange Composite Index (SSE Composite Index) some ETF : Total Market MCHI Large Cap FXI Total Market ASHR Internet KWEB Leveraged Equity: Internet CWEB Biotech CHNA
This one is one wild ride. What we call our initial "COVID dip" in January was an absolute crash over there, and it almost immediately recovered. But then, when the world markets crashed in February and March, the Shanghai Composite crashed again with them. Goodness. And then, much like the other markets, it formed a nice wedge off the March lows. However, instead...
With all the stimulus being pumped into global economies, China is having its fair share. What happens when large amounts of liquidity floods the market? You betcha. It is only a matter of time till we get a spike in the markets which has happened time and time again. I have Long positions in the following ETFs 1) 515050 - 5G ETF (20%) 2) 510300 - SHCOMP ETF...
Shanghai Composite Index closed Friday's session at 2852.351 +6.130 up 0.22%. The Index fell from 2900.000 level in mid-May and only recovered approximately 50% of its losses as of Friday's close. The critical price points to watch, first at 2845.685, support the current crucial level that could determine its next move, 2809.665 the previous support level and...
After some major Correction/Crash on the major Indexes such as SPY and Gold and Bitcoin, now all of the worlds are bearish on the markets. But as you can see chart says nothing about Financial Crysis, Depression, ... . Because of that, I think these Indexes probably have seen their lows. although there could be a correction in the way I don't think they will see...
What do you see ? What do you observe ? What do you want to do ? How do you decide ? Why do you do what you do ?
There is positive divergence and double bottom. If it breaks "Target1", next level will be "Target2"
Chinese markets has remained resilient in the face of a bloodbath in global markets with only a forgiving decline of less than 10%. It has now fell to a major support which is the level it gapped down to when it was in the centre of the outbreak. With that it can be observed that strong buying pressure came in as buyers aggressively defended when 2715 was hit and...
A bloodbath across most of Asia with SHCOMP managing to hold via PBOC intervention. Actively sold the Tokyo close as red alerts have been triggered across Global EQ Index. Those familiar with the current technical flows we are tracking will remember the PBOC dip; it was a classic example of CB intervention in attempt to stop the bleeding. The issue is that...
The Dow has fallen in panic over the past week, falling more than 3,200 points a week. The VIX index of the S.P. 500 peaked in 2011. Some people say that the outbreak caused the Dow Jones index to crash, in fact, the market has a foreboding. I published an article last November predicting that the Dow would peak in six months at 29,600 or 34,400,with a target of...
Take a look at this 3 line charts - SHCOMP, CN50 and HSI respectively. When 1.2 trillion yuan were injected into the markets, the 3 indices did a V shaped recovery almost instantly! Currently, SHCOMP is in the lead, followed closely by CN50 and HSI with a fairly strong pullback. The whole world is now watching how China central government will react on its...
Hi Guys, here the allocation of some events that impacted the Shanghai Composite Index (as well as worldwide financial markets): 1) China became a member of the World Trade Organization (WTO) on 11 December 2001; (en.wikipedia.org) 2) Financial crisis of 2007–08; (en.wikipedia.org) 3) 2015-2016 Chinese stock market turbulence; (en.wikipedia.org TO NOTE:...
Again? Yes, the Shanghai Composite had a massive Gap Down after a two week Chinese New Year break due to the COVID-19 (SARS-CoV-2) outbreak in Wuhan, Hubei, China. Since then, week after week it made momentous recovery up to close the gap this week. While this is seemingly bullish, and is technically starting to pull the MACD bullish, I call a bluff. Here is...
Hi Guys, the causes of the drop occurred back in May 2019 are different from today's drop due to COVID2019. They both produced a gap down but whilst the first took two months to be filled, the latter took two weeks as it has been filled today. For information about gaps: www.investopedia.com What type of gap is the present one? Please add your comments and if...
I apparently forgot the #1 rule in investing that has remained true since the financial crisis: don't bet against global central banks and their ability to maintain economic(stock) expansion. The PBOC has injected enough liquidity during this coronavirus outbreak to ease all trader fears of a market decline which has led to price filling the gap that was created...