Chinese stocks have been somewhat sloppy lately but of course it depends on the stock and industry. Some of them have been high flyers. Still, the Shanghai Composite Index long term chart depicts a picture of more consolidation in 2011 which could lead to much more bullish action later in 2011 and then into 2012. … Read more
I have been keeping the China Shanghai Composite Index in my index of charts for quite some time now because I felt it was a very important leading indicator and generally good index to look at from a long term perspective. Now here are the three important facts I wanted to bring to your attention … Read more
I think the 500 billion plus economic stimulus package that the Chinese implemented is working, not just working but working really well. Just take a look at the Shanghai composite Index. The rebound recovery rally in the Shanghai composite started about 4 or 5 months earlier than the USA’s recovery rally as measured by the … Read more
The bullishness is simply astounding lately. It is remarkable. Undeniable at this point. It seems like we are up almost every Monday of the week, every Friday of the week and most days in between. So that must mean we are overbought and ready for an extended nasty decline that will be horrible and scary … Read more
The SP500 has elected to break above the crucial 1116.56 level that I had alluded to several times before. This is a very bullish development and now opens the door to expanding upside price action moving forward into 2010. I cannot recommend shorting this market now. The risk reward is simply not there. That is … Read more