As can be seen on the following monthly comparison chart of China’s Shanghai Index(SSEC) and the Australian 200 Futures Index (AUS200), their price swings began to markedly and, abnormally, diverge from December 2017 to present day.
While the AUS200 continued to make new swing highs, the SSEC failed to do so.
The AUS200 has plummeted and has now made a new swing low, while the SSEC has not…yet.
We’ll see if this significant weakness in the AUS200 is a harbinger of much further weakness to come in the SSEC in the next few days/weeks.
Yesterday morning, I drove to what is normally the “Rodeo Drive” of the Silicon Valley, which is the Stanford Shopping Center. It is an outdoor mall, typically crammed with zillionaires eager to spend money. With the exception of a police cruiser parked out front, it was utterly abandoned. I doubt I’ll ever a scene like this again……….
My doubts are growing about this whole spread betting weekend thing. I’ve been watching it anxiously all weekend. Last weekend you may recall the market opened vastly lower than the WWS indicated. People here offered all kinds of excuses for them. But I’ve seen it happen the second weekend in a row. Here we have the quote: