A Warning from Shanghai

The $SSEC is a grinding towards the March lows I pointed out back in May.

The Shanghai composite is much more sensitive than the $SPX lately and one of the world indices not making new lows.  It has previously been an excellent tell on the $SPX and should give you a days worth of warning if the situation in Europe starts to deteriorate further.  If you’re bullish, pick your swing low ($2344 or $2252) and use that as your pivot for the summer months.

We gave up the first pivot at the end of May and dropped 50 handles quick-snap.  We could be in for similar treatment if we lose the 2252 level.

Follow the $SSEC: Shanghai Stock Exchange Composite Index

Disclaimer: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please click here for a full disclaimer.

blog comments powered by Disqus
Dynamichedge Blog