shangai index consolidation zonesShanghai base line + upper & lower devs.
SSE may need to search for a bid below black line
Shangaicompositive
Most world markets gone nowhere since 2008in this chart we look only at EM charts, and notice India and Indonesia are the exceptions as most markets still below 2008 in dollar basis... this is true not only for EM but for the utmost majority of markets in the world.
few other exceptions i found are germany, switzerland, korea, japan, denmark & netherlands...
ridethepig | SHCOMP Market Commentary 2020.08.26📌 A quiet few weeks and enjoying the last few days of summer before things get very active in markets for the rest of the year and into 2021.
Global Equity buyers received their reward for their braveness play: overshoots are a weakness.
See diagram below.
The mysterious 2650 lows were held from the Giant Panda (PBOC), when retail threatened the attack down to make the recovery difficult the monetary side played the defence. At the same time, it also makes the inevitable far worse as the energy needed to get back to 2750/2650 is minimal. The book is very thin.
Buyers have made good use of the swing higher, ignoring Covid cases and deaths and totally looking through US/China protectionism. Sellers have played the waiting game and distributed on the test of resistance 3400/3350:
Prepare for a parry away as the ever present threat of covid approaches and puts further lockdown threats in play. The risk of a full blown monetary crisis has put Equities under permanent threat as the weakness comes from confidence. If consumers are not confident enough to return, or will question if clients are even able to meet, then it will not matter the amount of stimulus as the issue is far bigger than central banks.
A strong move here would be to push the tempo and threaten the immediate breakdown. Live portfolio flows and chart updates resuming as 'normal' from Jackson tomorrow.
As usual thanks for keeping the feedback coming 👍 or 👎
Shangai Enterprises - tracing intermediate C upAs predicted in our April 5 post, Shangai Enterprises is tracing intermediate wave C of primary D of a contracting triangle. Next target is minute wave iii at the most probable level of around 2,093. If the index crosses down 1,832, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
Shangai Compositive Index - opportunity for returns ahead000062 seems to have finished wave (B) down of a primary contracting triangle. Wave ( C ) up will complete primary wave D of this contracting triangle. Wave C usually is a good segment to be in and the index should reach the most probable targets 1 or 1.618 of Wave (A), 2365 and 2731 respectively. FOLLOW SKYLINEPRO TO GET UPDATES.
