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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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...If the dots don't connect, gather more dots until they do...




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Monday, March 04, 2013

Asian Markets Tumble While Other Markets Are Mixed

At the time of writing this post shortly after 10:00 am EST on Monday, although Asian markets tumbled considerably overnight, European and North and South American markets are mixed, as shown on the table below (provided by http://www.indexq.org/)...apparently due to the Chinese government's announcement of a new 20% tax on any home sold.

We'll see whether the weakness in Asia continues and whether it, ultimately, affects other world markets to any significant degree.

The Daily chart below of China's Shanghai Index does not yet show today's close. However, its close of 2273.40 puts price just below major support at 2290 and in between the 50 and 200 smas...one to watch in the days/weeks ahead for a break and hold (one way or the other) away from the moving averages.