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After the run-up that China’s Shanghai Index has had since July of this year, this index may be on the verge of either a sizable decline or a somewhat volatile, and possibly lengthy, consolidation shortly.
The following 3-Year Daily chart shows SSEC to be at a major resistance level, and the RSI and MACD indicators are already in decline and do not support a further advance in SSEC.
Each candle on the SPX:VIX ratio chart below represents one year. I last wrote about this ratio pair on July 31st.
You can see at a glance that price action has been extremely volatile, so far, this year and has nearly re-tested the lows of last year’s candle. The Momentum indicator remains elevated at an all-time extreme on this timeframe.
At the very least, bulls will have to push the price above the 150.00 level and hold it there to coax investors into putting their money in equities in the near-term…otherwise, we’ll continue to see volatile intraday swings, or even a much bigger correction in equities if price falls and holds below the 110.00 level. (more…)
By StrawberryBlonde
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All affected parties must have a genuine desire to end conflicts. To simplify this process, all parties must know and agree upon what kind of long-term, mutually-beneficial, synergistic relationship that they wish to co-create and maintain…one which is single-minded in its purpose and, at the same time, multi-servicing in its actualization. From that end-game perspective, solutions and actual resolutions can be created, resulting in contentment, harmony, peace, and enlightenment. All parties can then ascend to Maslow’s highest form of basic human needs…that of self-actualization.
As shown on the following Weekly chart of the Nikkei E-mini Futures Index, price has now reached a potential Head & Shoulders major resistance level.
Failure to hold above the 15500 level may see price plunge back down to the neckline at 14000. A break of that level with conviction puts the H&S pattern target at 11500.
My last post on the SPX:VIX ratio refers. I mentioned that price on the Weekly ratio chart below may retest the 130.00 level and then rally. On Thursday of this week, price not only retested 130.00, but it blew right below to close around the 110.00 major support level.
Momentum has dropped below the zero level, indicating further weakness may be ahead.
