The Shanghai index (SSEC) downtrend breakout continues to strengthen. It is still early days, but SSEC is now trading above the 100-day EMA. It recently just traded above the 200-day EMA. This could be the market telling us in advance that the U.S. and Chinese trade war situation will more likely be resolved. This would be bullish for the S&P 500 and bearish for BBUS.
SSEC daily chart with GMMA, and 100, 200 EMA lines. Note price breaking above descending trend-line on Jan 18, 2019.
BBUS, page-119
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Last
2,806.7 |
Change
-11.790(0.42%) |
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