S&P500 Plays Range Rover, Waits on the Shanghai

As we posted yesterday, the S&P500 appears to be working off an overbought condition by trading in a relatively tight range between 1306 and 1333.   A break of 1306 could take the index back to 1277, which is key support.  The S&P500 is up 4.67 percent year-to-date.

Monday will interesting as the Shanghai Composite begins trading after a week holiday celebrating the Year of the Dragon.  The Hang Seng was up 1.95% for the shortened week after traders returned on Thursday.  Can the Shanghai break out of its downward channel?

We added to some Korea, EWY, over the weekend as a beta play in the event that it does.  Stay tuned.

(click here if charts are not observable)

About these ads
This entry was posted in China, Equities, Global Stock Performance and tagged , , . Bookmark the permalink.

One Response to S&P500 Plays Range Rover, Waits on the Shanghai

  1. Pingback: S&P500 Plays Range Rover, Waits on the Shanghai | Forex news

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s