Sunday, April 28, 2024

Equities: We 'May' Have A Breakout In The Chinese CSI300 Index

It's "May" because, although we waited patiently for over a year before calling it, we were still early on the big change of direction. As recounted March 12:

On December 27, 2023 we posted "A Bottom In Chinese Equities".

We were early. The Shanghai-Shenzhen CSI300 Index continued lower for another month.

Chart Image


Finally on February 1, the rat-bastard turned up with some conviction.

Here's the latest, a poke above triple-top resistance: (also on blogroll at right)

What you want to see is today's action holding and tomorrow some follow-through. 

If that happens you can start to get comfortable with the idea that the sellers are out of shares they want to let go at that particular level.