Monday, 24 August 2015

10pm update - China breaks the floor

Whilst US equities futures are sp -18pts @ 1952, there is more exciting downside action in China. The Shanghai comp' has decisively failed to hold the summer low of 3373. Next support is 3200/3000.... worse case... 2500. The communist leadership will not be pleased.


China, daily


re: China. -7.0% in the 3260s

A clear break of the low... and broad downside looks due for at least another 4-6 weeks.

It will be interesting to see what crazy new measures the Chinese leadership come up with in the next few days.

Will they even resort to shooting Panda bears? After all... maybe they are part of the 'malicious short sellers' group?

Ohh look.. that maniac got highlighted again....

Goodnight from London  ;)