‘Shanghai index’ Archive

China breaks 6-year resistance line, nice price action of late!

  CLICK ON CHART TO ENLARGE The Power of the Pattern has been keeping an eye on China ETF FXI, as it approached 6-year falling resistance a couple of months ago. Members bought FXI near resistance with a tight stop, looking for a potential breakout. Of late, FXI is breaking above its 6-year resistance line […]

China near a multi-year bullish breakout? Help push S&P higher?

  CLICK ON CHART TO ENLARGE Many major stock index’s in the United States and Europe are either at all-time highs or near them. One sixth of the worlds population can’t make the same statement though! The chart below reflects that the Shanghai Index and the popular China ETF (FXI) has greatly under performed the […]

Pattern suggests China could fall 30%! If so, impact S&P 500?

  CLICK ON CHART TO ENLARGE The Shanghai Index looks to be creating a multi-year descending triangle pattern. A little over 50% of the time the asset that forms this pattern, ends up falling in price. When support breaks, over 75% of the time a meaningful decline takes place. For more details on this pattern […]