WELCOME

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

N.B.
* 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.
* 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...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Late Summer

Late Summer

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 26 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Oct. 5 @ 8:30 am ET ~ Employment Data
* Mon. Oct. 8 ~ Canadian markets closed for Thanksgiving Day Holiday
* Thurs. Oct. 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Oct. 17 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Oct. 24 @ 2:00 pm ET ~ Beige Book Report
* Tues. Nov. 6 ~ U.S. Midterm Elections
* Thurs. Nov. 8 @ 2:00 pm ET ~ FOMC Announcement
* Thurs. Nov. 22 ~ U.S. markets closed for Thanksgiving Day Holiday & NYSE closes early @ 1:00 pm on Fri. Nov. 23
* Wed. Dec. 19 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. & Wed. Dec. 25 & 26 ~ Canadian markets closed for Christmas & Boxing Day Holidays
* Tues. Dec. 25 ~ U.S. markets closed for Christmas Day Holiday & close early @ 1:00 pm on Mon. Dec. 24
*** Click here for link to Economic Calendars for all upcoming events

IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Wednesday, November 23, 2016

China's Shanghai Index: Its Role in World Markets in 2016

I last wrote about China's Shanghai Index (as part of a comprehensive review of major world markets) on January 29th. Since then, and, until June, the road to recovery from its lows of the year has been volatile and rocky. The last half of this year has seen a fairly steady, if choppy, advance to its current level just below its next resistance level of 3250, as shown on the following Daily chart.

In that post, I had mentioned that a rally to (and hold above) 3000 could thwart a major downdraft, as was being threatened by an imminent break of a neckline of a massive Head & Shoulders formation.

A break and hold above 3250 could see price continue to rally to its next resistance level around 3400-3500. This index is trading under the bullish influences of a moving average Golden Cross, so a break and hold above 3250 is critical to continued success of further advance; otherwise, a drop and hold below that level could very well see a major bear attack ensue, sending price to new lows of around 2500, or more.


In my above-mentioned post, I also made the following conclusion (relative to world markets):
     "In particular, watch Japan, China, Brazil, the Russell 2000 and the Nasdaq 100 Indices for committed leadership..." related to any real success or failure of the S&P 500 Index and equities, in general.

As noted on the following 1-year Daily charts of these indices, they've all risen above major consolidation/congestion levels this year, with the exception of the Nasdaq 100...the one to watch, along with the Shanghai Index, to see whether their movements (either strength or weakness) influence, or have an impact on, the other indices in the days and weeks ahead.