China now lags India ?

Chart pattern of the BSE India Bombay Sensex 30 index versus the Shangai Stock exchange now confirms that China does lag India.
Funny how several months ago so many articles where pointing to the fact that India was lagging China because of its economic backwardness .....
Article 1
Article 2
Article from Businessweek written by Bruce Einhorn saying that it will take India 163 years to catch up to China !!!

Apple Inc. (AAPL), huge move coming ?

Apple Inc. (AAPL) chart analysis ;
1) Pay attention to that "parabolic rise" (blue trend on the chart)
2) Gap could signal the "end" of the spike up ?
3) Tight channels mean STRONG break out (expect a big move)
Gut feeling ; I am out sitting on cash (see previous posts) ; waiting for a pull back
Apple Inc. is a must own ; chart and fundamentals do confirm the fact that you must own it in your portfolio.
I have a price target of $400 ....... been saying that for a while now :)
If you are a long term investor using the settings seen on this chart (50 & 200 exp moving averages) ; your signal is still bullish.

SP 500 chart, why oil does matter

SP 500 chart analysis ;
1) Support level is quite clear, you should also use it as a stop loss
2) Long trigger is also quite clear ; probability of price going higher ? Low to medium.
Why should you focus on oil ?
The weight of oil stocks within the SP 500 !
If crude oil keeps on going lower (below $64) ; expect the SP 500 to retest the 1000 levels.

Africa ETF (AFK)

The Africa Index ETF (AFK) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Dow Jones Africa Titans 50 Index.
A diversified group of 50 companies; market participants gain direct or indirect exposure to a broad range of African countries, including less developed, frontier markets
Index country breakdown ;
South Africa = 31% !!
Egypt = 16% !!
Nigeria = 15% !!
Morocco = 12% !!

Ok, if you have been reading this blog for a while, you know that I was born and raised in Kinshasa, Congo (ex Zaire). I have traveled to many countries in Africa (business reasons).
I am amazed to see that breakdown in this "Africa ETF" ; The heavyweights like South Africa will never see a fast rise such as Rwanda (see picture ; it really reflects the situation in Kigali).
What about the Congo, Angola, Zambia, Ivory Coast ??? (loaded with commodities).

Wait for a real African"opportunity" frontier market ETF

United States Natural Gas Fund ETF (UNG)

United States Natural Gas Fund ETF (UNG) chart analysis ;
1) Focus on both trendlines (blue and red) on the chart
2) Trading system (5&50 exp MA crossover) still not activated
3) Resistance level is "quite clear"
Gut feeling ? Allow a pull back first before going long again

US Dollar index update

$USD Dollar index chart update ;
1) Pay attention to the "main trend" and its "reversal point"
2) Focus on the "buy trigger level" (if we get above it within the next 10 days)
3) Gold ; if gold goes below 990 ($USD Dollar index will fly up)
4) Oil ; if oil goes below $64 (The dollar will fly up)
Commodity reversal will send currencies "linked to commodities" down ;
ie : Canadian and Australian Dollar

General Electric ( GE )

General Electric ( GE ) weekly chart ;
1) Last week's low should be your "last" stop loss level
2) Go long right above $17.5 level
3) ABC pattern activated , but we are facing a real strong resistance level
Gut feeling ? Expecting a break below that "main trend" ; sending GE into a sideway pattern.

International Paper Co. (IP)

International Paper Co. (IP) weekly chart analysis ;
1) Fake move ? (see chart)
2) Sell trigger is right below $20
3) Long trigger is right above $22.5

Warning signals from Japan's Nikkei

After looking at several global indexes, I concluded that the Nikkei had the "WORST" pattern.
1) Broken trend
2) Support channel testing old resistance channel
3) Price stuck in tight channel pattern
4) Main HUGE warning level is 10,000
Watch the Nikkei next week .....

Wind's power to produce electricity

RidgeBlade addresses the issues associated with traditional micro-wind generation technologies. The unique design means it can reliably produce electricity in low or variable wind conditions whilst creating very little visual impact. This means that it is suitable for locations including urban houses, rural buildings and environmentally-sensitive sites such as National Parks.

The RidgeBlade is fitted on the ridge line at the top of a building and uses the existing roof area to collect and focus the prevailing wind. This is where the wind is forced to travel over the roof surface, accelerating the airflow though the turbine.
Source : www.thepowercollective.com

Now that is what I call a GREAT idea ..... too bad its not listed on any exchange

SP 500 case study

Quick case study for the SP 500 using a price spread (in % terms)
The PPO indicator ; The Price Oscillator is an indicator based on the difference between two moving averages, and is expressed as either a percentage or in absolute terms.
Source : Stockcharts

The PPO is one of the tools I often use to detect an overbought/oversold level.
Why is it important ?
1) Price does retrace (often to the 50 days exp MA)
2) The PPO helps you focus on chart patterns (you can remove the moving average from the main chart you see on above)
3) The PPO can be used as a buy/sell trigger
4) The PPO can be mixed with another exp MA ; ie ; try the 5,50,1 and you have a full trading system on your hands
5) Having a clean chart to spot chart patterns with a trading system below is a "must"

Microsoft Corp (MSFT) Secret Tablet

Microsoft Corp (MSFT) new weapon ? Courier is a real device, and we've heard that it's in the "late prototype" stage of development. It's not a tablet, it's a booklet. The dual 7-inch (or so) screens are multitouch, and designed for writing, flicking and drawing with a stylus, in addition to fingers.
Source : Gizmodo
I'll love to draw my cartoons on that tool :)

PowerShares QQQ Trust (QQQQ)

PowerShares QQQ Trust (QQQQ) chart analysis ;
1) Support channel seems to confirm our price target ; $41
2) Trading system ; buy signal still intact (5 exp MA is above the 50 exp MA)
3) Long term investors ; all signals are still bullish
I am out of the markets, sitting on cash with the following trading plan ;
Wait and see what happens (price/volume reaction) on the $41 levels

Research In Motion Ltd. (RIMM)

Research in Motion Ltd. (RIMM) cartoon ;

1) Another fake move ? Yes, see a weekly chart and notice how price reversed at the exact same level in May 2009 ....

2) RIMM loss = Apple gain ? Yes, probably.

US Dollar index, Oil and Gold update

$USD Dollar index chart ;
1) Confirmed oil reversal was a buy signal on the $USD (speculative buy)
2) $68 level on crude oil was an important key reversal signal
3) Confirmed resistance level for crude oil is $68.
4) A close below $65 (Oil) could send it back down to test the $59 levels
5) Gold did reverse as well ; confirms Dollar "speculative" buy signal
6) Channel pattern for gold (990 to 1020) ; main stop @ 985, last stop @ 970
* US Dollar Index Bullish ETF (UUP)* if you wish to trade the Dollar index
Gut feeling ; Yes, as mentioned in previous posts, was expecting a bullish Dollar reversal.
A) Does that mean go long NOW ? No, at least not yet
B) Do not let your mind "twist" the chart image , do not anticipate any moves.
C) Gold and Oil are STILL in a bullish long term uptrend (do not forget that)
C) Speculative buy means you are acting like a trader with a quick exit plan !!!!!

Apple Inc. (AAPL) probable scenario

Probabla scenario for Apple Inc. (AAPL) ;
1) First remember that I sold ; sitting on cash.
2) Focus on that main trend line (blue on chart)
3) See that green thick arrow ? That is the scenario I am expecting based on current chart patterns Apple inc (AAPL) tends to give us lately.
4) Main reversal signal ? Right below $175
PS : Main trend is still bullish
Waiting for a confirmed pull back, allow Apple to form a channel, wait for improved news, and buy the break out

CAC 40 France index analysis

CAC 40 , France Stock index analysis ;
The trend line you see is basically giving us a "warning signal" ; with a confirm reversal right below 3750.
A close below 3700 is your "last stop loss".
Gut feeling ? Expecting a sideway/channel pattern until we get more improved fundamentals.
News event will dictate the next break out direction
Just keep in mind where the key resistance/support levels are and focus more on the news flow.

Market opinion

Nice reversal, was expected, now lets see what fundamental news will help drag it lower;

1) Credit card losses usually follow the trend of unemployment, which rose in August to 9.7 percent, the highest level in 26 years. Moody's estimated unemployment will peak next year at 10 percent to 10.5 percent.

2) Data released by companies earlier this month based on the performance of credit card loans that were securitized showed defaults rose to record highs at Bank of America Corp (NYSE:BAC - News) and Citigroup Inc (NYSE:C - News), among some of the biggest card issuers. Both Citigroup and Bank of America hold the highest exposure to riskier credit card borrowers.

3) Light crude oil ; as mentioned in my previous post, was expecting a HUGE move ; it occured, on the downside (watch the $68 levels!)

4) I still maintain that the $USD Dollar index is way way oversold (expecting a bullish reversal) ; not a call to go long yet (unless we climb above 77.5)

5) Global equities, ETFs ? I am sitting on cash.

Gut feeling ; Be patient. Go play golf, forget the markets for a few days :)

Citigroup Inc. (C) chart update

Quick update for Citigroup Inc. (C) ;
1) Sept 16 buy signal now confirms a "B" level (ABC pattern)
2) $4.4 is now my stop loss

Patterns to watch

Moody's Corp (MCO) ; Gap down on increased volume. Broke main support level around $23.7.
Anglogold Ltd Ads (AU) ; Gap down on increased volume ; was that latest break out a fake move ? (right above the $42.8 levels).
Agrium Inc. (AGU) ; A few days ago, price broke above the resistance (from early May), it now reversed, and testing it again as a support level ; will it hold ?

Light crude oil chart analysis

Light crude oil chart update ;
1) Resistance channel is quite clear (yellow)
2) Notice those multiple fake moves right above $72 ?
3) What is this pattern trying to tell us ? A close above Aug high will send oil prices zooming up.
4) Watch the $USD Dollar index (down this morning again)
5) See that reversal level in oil ? Its your main exit level
Gut feeling ? Well, I always expect the unexpected :)
Actually, I am expecting a HUGE move in oil and most markets .......
Tight channels never last ........
They burst !!!! They end up in huge breakouts .....

US Dollar index chart analysis

On Sept 11 , I published the following chart concerning the $USD Dollar index . Post was about a potential Dollar (bullish reversal). Funny how these reversals often occur near a G20 meeting .....
Back to the Dollar ;
1) Was way way oversold ....... bounce up was expected ....
2) Should you buy ? No, at least not yet ....
3) See those buy levels ? If the Dollar index manages to climb above these levels, increase positions
4) A full (reliable) buy signal is above 80

Shangai Stock Exchange chart analysis

Shangai Stock Exchange chart analysis ;
1) Current level is 2967
2) Fake move ? (see chart) and focus on that resistance channel
3) Pay attention to the "warning levels"
4) See that "get out ! " level ? (I doubt we shall get there) , you never know .....
I am out of the market (see past posts)
Waiting for bargains :)

BSE India Bombay Sensex 30 Index

BSE India Bombay Sensex 30 index ;
1) Main trend still intact
2) Current price is 16, 741
3) Pay attention to the stop loss level
4) Probable scenario ? (see red arrow on chart)

Copper weekly chart

Copper weekly chart ;
1) What is it trying to tell us ?
2) Resistance channel is quite clear
3) Uptrend is "too steep"
4) Expect a pull back followed by a channel pattern
Gut feeling ? We are way overbought .....

Coca-Cola Co. (KO) analysis using equivolume

Quick look at the "equivolume" on Coca-Cola Co. (KO) ;
1) What is equivolume ?
2) Why do I use it ? It merges right into price action. You don’t even need to analyze volume as a separate indicator. In addition, normal technical analysis can be applied to this price chart. Moving averages, trendlines and other indicators can be applied. With volume incorporated into price action, it is easier to validate important moves.
Ok, back to (KO) ; since I am expecting a pull back, here is my trading plan for Coke ;
1) Allow a channel pattern to take shape
2) Buy the "clear break out"

Understanding Google (GOOG) economics

Vix volatility index analysis

Quick look at the Vix (volatility index) versus the SP 500 ;
We are now in a "complacency" level (The neuro-physiological experience of satisfaction and being at ease)
The higher the perceived risk is in stocks, the higher the implied volatility and the more expensive the associated options, especially puts. Hence, implied volatility is not about the size of the price swings, but rather the implied risk associated with the stock market. When the market declines, the demand for puts usually increases. Increased demand means higher put prices and higher implied volatilities.
Source : Stockcharts.com

Weekly opinion

What will I focus on next week ? Natural Gas
See that weekly rise ? (see chart above)
Quick reminder ; I sold my holdings in the United States natural gas fund ETF (UNG).
Sold all my holdings this week ; sitting on cash.
Why ? I am expecting a pull back next week

What else will I focus on next ?
1) The dollar rebounded from a one-year low against the euro
2) Turns out that during the downturn, Coke still has plenty of fizz. According to a new report from Interbrand, a global consulting firm, Coca-Cola is the world's most valuable brand. Is that why (KO) has a great looking chart ?

How to reduce CO2 emmissions

"Cow emmissions more damaging to planet than cars ?"

Cartoon inspired by this article

Apple Inc. (AAPL), sell, sell, sell ?

15 min chart of Apple Inc. (AAPL) ;
1) Like I mentioned a few days ago ; sell on strengh !
2) Apple Inc. (AAPL) is now facing its Aug 08 resistance (see a weekly chart)
Gut feeling ? SELL NOW !
Buy back later on a pull back
PS : still long term bullish with my crazy $400 target I mentioned a few months ago

United States natural gas fund ETF (UNG), just sold

Sold my United States natural gas fund ETF (UNG).
Why ? Well, as posted on this blog before, I was adding shares as it dropped below $10
(see past posts by typing UNG in the blog search)
Bearish on UNG ? No way !
Taking profits :)

Will buy again soon, will keep you posted.

Bought a small position in Citigroup Inc. (C)

Just bought a small position in Citigroup Inc. (C)
1) Focus on that stop loss level
2) Will add more above that green level (see chart)

How to be creative

Rule number 1 ; "Ignore everybody"
Download the PDF file of "How to be creative" by Hugh Macleod on Changethis.com

Baidu inc (BIDU), time to short again ?

Time to short Baidu inc. (BIDU) ?
Well, I did .... see my Nov 6, 2007 post HERE
Fundamentals and parabolic rise "convinced" me back in 2007 to SHORT Baidu inc.
What has changed today ?
Fundamentals .....
According to Yahoo Finance , fundamental story is different ...
Forward PE is only 44
We DO have a decent Return on Equity and Return on Assets ....
So will I short Baidu ? No ..... not this time .....
If you bought; use the $375 levels as your stop loss

Stocks with weekly ABC pattern trigger

The following stocks have a "confirmed" weekly buy trigger (ABC pattern)
1) FLIR Systems inc. (FLIR)
2) Wynn Resorts Ltd (WYNN)
3) Comcast Corp. (CMCSA)
4) Costco Wholesale Corp. (COST)
* SP 100 Stocks*

Feel like gambling ? Focus on these two ;
Exeter Resources Corp. (XRA)
Entree Gold inc. (EGI)

What is the ABC pattern ? Read Here

SP 500 chart and a basic system

Before I give you my opinion about the chart of the SP 500, lets first see what this system is all about ;
1) You can use the link here on Stockcharts to view those settings ; basic chart using the PPO indicator on the bottom (about the indicator) using a crossover of two exp moving averages 5, and 50.
2) I am a typical chart reader (love to keep things simple) but I love to keep an eye on basic trading systems in order to spot any divergences.
3) This system is quite simple ; if the indicator is above "0" ; you buy, if it goes below, you sell.
Wow !!!! That simple !!!! (now you know how so many people get scamed into buying trading systems).
4) I then use typical chart patterns like trend reversals to spot a confirmation or divergence. (see chart).
5) In mid July, the trading system "confirmed" a trend reversal (confirmed by a price break out).
Now what ?
Well, we are in a clear uptrend, with our trading system almost breaking that bearish divergence ??? (I say almost since its not yet fully broken)
Are we overbought ?
If you are a trader ; use Mondays lows as your stop
If you are a trading system (typical trend follower), your signal is still bullish.

Dollar versus Israel Shekel, ABC pattern case study

Weekly chart for the $USD Dollar versus Israel's Shekel ;
1) First clean pattern (ABC) occured in mid July 08 when the Dollar broke that down trend.

2) This clean break out was followed by a typical ABC pattern ; price zooms up, followed by a typical pull back ; then again followed by a "C" trigger (lets remember that investors where looking for a safe heaven)

3) That pattern continued (notice how the first "C" acted as a strong support level ?)

Now what ?

Experience teaches me two things about this pattern ;

1) After a "very fast price rise" ; that pattern tends to form a long U (almost like a cup and handle) with a confirmed "C" trigger occuring after several months (over 6 months).

*Of course, that implies that price would flirt with the 3.7 levels for a few weeks then climb above the 3.8 levels (confirming the current "B" level ; notice also the importance of 3.7)*

2) Those long based ABC pattern are VERY powerful ..... they usually end up in HUGE parabolic rises ....

Conclusion ; Go long if we close the month well above the 3.8 levels

PS : Do not expect a fast price rise

Confirmed reversal ? A monthly close below 3.7

Citigroup Inc. (C) trading plan

Quick case study for Citigroup Inc. (C)
First, the news ; US to explore "sale" of Citigroup stake ; impact on price/volume ???
Will support hold ? (see support channel)
Trading plan ;
1) Wait for a clear price/volume action
2) No matter what my gut feeling is telling me right now, I need to be patient and wait for price to dictate my next move ; long above $4.8 , on huge volume increase or patience if price dips below $4.2. (so I can plan to buy around the $3.4 level)

Stocks on my watch list

Vonage Corp (VG)
MGM Mirage (MGM)
Chesapeake Energy ( CHK )
DOW Chemical ( DOW )
Coca-Cola Co ( KO )
Ambac Financial Group ( ABK )

Price/Volume pattern is the "main reason" why these stocks are on my watch list.

The hierarchy of success

The hierarchy of success ;
1) Attitude
2) Approach
3) Goals
4) Strategy
5) Tactics
6) Execution
Source : Seth Godin

Google (GOOG) internet stats, tool for investors ?

Busy playing around with Google internet stats, trying to figure out what info/stat I can find that will help me as an investor.
Try out the Technology sector with "mobile stats".
Will update you if I find some "juicy" stat :)

Gold weekly chart analysis

Gold weekly chart analysis ;
I am often asked to make a prediction ; friends and fellow traders/investors in Belgium often ask my opinion about the direction of the Dollar, Gold, Oil, and various equities.
I "often make predictions" ; based on very recent chart patterns.
I am always right ? Of course not.
Is it about making predictions or having a plan ?
People have a hard time understanding "potential reversal levels" ..........
Most investors want a clear answer ; will it go up ???
Its not about being right, its about doing the RIGHT thing.
Most traders are expecting to see the "green arrow scenario" (see chart) ; a clear break above 1000, and heading to 1600 and/or higher.
What about the black arrow scenario ? It tells us that a close below 980 would confirm a bearish reversal.
Bottom line ? Watch the $USD Dollar .....

Monsanto Co. (MON), should you buy ?

Quick analysis of Monsanto Co. (MON) ; weekly chart.
1) First, the news ; The company, hurt by depressed sales of roundup and other herbicides, had revealed in late June that it would eliminate 900 jobs. This week it added that it would letting another 900 go. That raises the total dismissed to about 8% of the company's workforce of 21,700.
2) Price/volume reacted to that news with a gap down on increased volume (daily chart).
3) Is Monsanto a bargain or a "value" trap ?

About Monsanto ; The company provides agricultural products for farmers in the United States and internationally. It has two segments, Seeds and Genomics, and Agricultural Productivity. The Seeds and Genomics segment produces corn, soybeans, canola, wheat, and cotton seeds, as well as vegetable and fruit seeds, including tomato, pepper, eggplant, melon, cucumber, pumpkin, squash, beans, broccoli, onions, and lettuce. This segment also develops biotechnology traits that assist farmers in controlling insects and weeds, as well as provide genetic material and biotechnology traits to other seed companies for their seed brands.

Simple demographic fact; more people in 2050 (some say over 30%), less fertile land ......
Is that a buy signal ? No, not yet .....
Wait for a weekly close above $85
Short trigger is right below $70 ; will I short Monsanto ? No.

Day trading Apple Inc. (AAPL)

Day trading Apple Inc. (AAPL) ;
1) Before you focus on that 15 mn chart chart (on top), make sure you pay attention to the daily chart.
2) We see clearly that the uptrend is intact (daily), but could be facing an overbought level.
3) Back to the 15 mn chart ; notice the volume/resistance pattern ?
4) $173 is a "confirmed" resistance ; $171 is a confirmed support.
5) Tight channel means expect a violent break out .....
Trading plan ; trade the direction of the break out on INCREASED volume

Citigroup Inc. (C) trading plan

Trading plan for Citigroup Inc. (C) ;
1) Possible ABC pattern shapping up
2) Waiting to see price/volume/news reaction around the $4.4 levels.
Green arrow is the scenario I am expecting

Dollar probable bullish reversal

Probable bullish reversal pattern for the $USD Dollar ?
Scenario (see green arrow) is highly probable
Expecting a spike down first ; wait for a long candle reversal pattern

Light crude oil reversal ?

Are we facing a reversal in light crude oil ?
1) Once again crude oil failed to get above that yellow resistance channel
2) Notice that fake move ?
3) Focus on that trend line (red) from lows of Feb
4) Focus on the "short trigger" ; right below $66
5) Fake bearish move ? Its possible ; our long (buy) signal is now right above $72
PS : Long term trend still bullish

Motorola Inc. (MOT) targets social networks

Motorola Inc. (MOT) new phone called the Cliq ;
The Cliq focuses on people obsessed with social networks instead of the traditional menu of features, the Cliq’s home screen is an ever-changing mosaic of e-mail, Twitter tweets and status updates, superimposed over photos of the people sending those messages.
Source : The New York Times

PS ; The chart looks really bullish :)

Sold on strengh

Just sold on strengh ;
Advanced Micro Devices Inc. (AMD)
PowerShares QQQ (QQQQ)
SP 500 ETF (SPY)
Apple Inc. (AAPL)

Only holding ; Gas ETF (UNG)

Short master is back

Why are Corporate insiders selling their shares ?
Source : Time

Day trading the PowerShares QQQ (QQQQ)

The following is a 15 mn chart of the Powershares QQQ (QQQQ) ;
First thing you want to do is look at the daily chart ;
1) Stop loss should now be @ $40.5
2) Then jump over to a weekly chart (to look for a price target) and notice the important $42 resistance level (early 08, and Oct 08).
Now back to our 15 mn chart ;
1) Focus on 40.75 (support), Tuesday's resistance level.
2) Europe is "acting" weak this morning .....
3) Sell on strengh ; sell as soon as it gets above $41.5

SP 500 chart update

The following chart of the SP 500 was published on Sept 4, 2009 (see link here)
Current level for the SP 500 is 1033.37 (Sept 9, 2009 close)
1040 is our real resistance level right now
Trading plan ; Sell on strengh
Oil is up this morning @ $72.23 (10 AM Brussels time)

Apple Inc. (AAPL) live blogging

http://www.crunchgear.com/2009/09/09/live-from-apples-rock-and-roll-event/

Follow Apple Inc. (AAPL) live blogging event on Crunchgear

Cisco Systems inc (CSCO) chart analysis

Quick analysis of Cisco Systems inc (CSCO) ;
1) This is a weekly chart
2) "A" level took place right after Cisco broke above that red trend line
3) "B" was confirmed around the $18 levels (strong support)
4) "C" , our main buy trigger broke above "A" in early July.
Current pattern is a typical channel after an ABC pattern break out
See that green trend ? Its our main stop loss level (@ $21)

How to boost Dell computer (DELL)

Do you remember the old days when we where all trading Compaq, HP, and Dell (DELL) ?
The box is dead, long live the content ?
Ok, its just me brainstorming here .........
Dell should focus on a niche like mine (financial blogger)
Why ? We get the right traffic ..... (High income readers) compare to tech blogs :)
Check out my Quantcast.com demographics
In those demographics you'll find a lot of business owners.
Here comes the idea ;
1) Dell supplies us (the top 200 financial bloggers) all the "up to date tools" we need to publish.
2) Dell is promoted on our blogs (Over 200,000 unique visitors per months).

Now imagine how much they will save in ad spending ..... mmmm

Advanced Micro Devices Inc. (AMD), perfect ABC pattern ?

See the FAQ of the ABC pattern here
Advanced Micro Devices Inc. (AMD) ;
1) "C" is our major long term buy signal (right above "A")
2) Stop loss stands @ $4.60

BSE India Bombay Sensex 30 Index

BSE India Bombay Sensex 30 Index ;
1) Weekly chart
2) Current level stands @ 16,123
Clear up trend ; my main worry here ? That trend is way too steep ....
Probable scenario ? Expect a channel pattern. Soon ....

Shangai Stock Exchange chart analysis

Shangai Stock Exchange chart analysis ;
1) Clear reversal above the 200 days exp moving average
2) Bullish candle (right above that moving average) confirms reversal
3) Down trend now "broken" (from early Aug high)
4) Focus on that stop loss level
Current level stands @ 2930
Traders will probably focus on the "round number" (3000) and wait for a clean break out above that level to call it a full "reversal".