Monday, August 3, 2015

SSEC Shangha Index Intraday Chart Defending the 200-Day MA

As the previous SSEC chart highlights, the Chinese communists told the brokerages to defend the 200-day MA at 3550, and they did as the intraday chart for today shows. When the Beijing communists tell you to do somethinig, you toe the line, otherwise, you receive a bullet in your head. An interesting week is ahead to see if the Chinese regulators can hold the 200-day MA support, or not. US hedge fund Citadel was suspended from trading probably because they were trying to unload large blocks of stock. The markets have become a joke. China is intervening not only with stimulus measures but also through preventing stocks from trading. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note: Chart is courtesy of CNBC and annotated by Keystone.

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