Wednesday, August 22, 2012

Chartology: The Shanghai Index

This morning the index gave back 93% of Monday's irrationally exuberant gains. 2107.71 last.
From Global Macro Monitor:
The Chart That Keeps Us Up At Night
The only major global equity index which we monitor — and it is a big one – that is down for the year is the Shanghai Composite.   The chart looks ugly and ready to break to new lows after its post crash peak of 3,477, way back in August 2009...MORE

(click here if charts are not observable)