Further to my post of February 15th, data released Wednesday night shows that Foreign Direct Investment in China pushed deeper into negative territory, as shown on the graph below.
I had mentioned in my post that 2350 was near-term support on the Shanghai Stock Exchange Index. After yesterday's drop, today's price action traded in a choppy range just above that level, as shown on the 5-day intraday chart below.
As I write this post during market hours on Thursday, the Daily chart below of this index doesn't yet contain today's candle. Near-term support now lies around 2300-2320. The uptrend from last year's low was broken on Wednesday on negative indicator divergences.
Add the above data to the mix of negative data pertaining to the huge drop in China's Trade Balance for February (as noted in my post of March 10th, and the outlook, at the moment, does not look positive...definitely the laggard of the BRIC countries and the one that bears a close watch.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. July 7 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Tues. July 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. July 14 @ 8:30 am ET ~ PPI m/m & Core PPI m/m Data
* Wed. July 14 @ 2:00 pm ET ~ Beige Book Report
* Fri. July 16 @ 8:30 am ET ~ Retail Sales & Core Retail Sales Data
* Wed. July 28 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. July 30 @ 8:30 am ET ~ Core PCE Price Index Data
* Fri. Aug. 6 @ 8:30 am ET ~ Employment Data
*** Click here for link to Economic Calendars for all upcoming events.