Here is an updated daily chart of the Shanghai Stock Exchange composite index. I last commented on this market here.
As you can see the drop from the from the early August high ended in early September, just about in the target area I had highlighted (purple oval). That target represented the confluence of the rising blue trend line and midpoint support denoted by the horizontal red dash line.
I think a move to new bull market highs for this index is about to start. It should carry the index above the 4000 level before another substantial break begins.
Hi Carl,
ReplyDeleteis there any financial instrument that replicates Shanghai Index?
Check out CAF:
ReplyDeletewww.etftrends.com/2009/09/china-cef-gives-exposure-shanghai-index.html
I prefer to stay clear of CEF's like (CAF). I've taken a liken more to Claymore/Alpha Shares (HAO) China Small Cap Index ETF's. Solid return numbers thus far and continuing forward in a bullish enviroment.
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