ridethepig | SHCOMP Market Commentary 2020.02.24
Updated
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 markets want to test the limits, CV is showing no signs of abating and the impact is still yet to be seen in earning and growth figures.
We have retraced back to the last breakdown point and selling has begun as if a new crisis is here...
Good luck all those on the sell-side in equities, a major move in the making if things do not get under control within days on the virus front. Thanks for keeping the support coming with likes, comments and etc!!
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 markets want to test the limits, CV is showing no signs of abating and the impact is still yet to be seen in earning and growth figures.
We have retraced back to the last breakdown point and selling has begun as if a new crisis is here...
Good luck all those on the sell-side in equities, a major move in the making if things do not get under control within days on the virus front. Thanks for keeping the support coming with likes, comments and etc!!
Note
Chinese Equities miles ahead here... Note
Eyes on the targets here...Trade closed: target reached
All targets cleared! Well done sellers... Note
A quick chart update here... Note
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