Tuesday, 27 October 2015

China attains another close in the 3400s

Whilst US equities closed moderately mixed, there was notable strength in China. The Shanghai comp' settled +0.5%, a relatively small gain, but still, it was another very important close in the 3400s. Next upside is the monthly 10MA.. currently @ 3695.

China, daily

China, monthly


Suffice to say.. with 4 trading days left of Oct', the China market is set for the first sig' net monthly gain (currently, 12.3%) since April.

An Oct' close above the key 10MA is unlikely, but given a few weeks of minor chop/retrace.. and then further upside, a Nov' close in the 3700s looks very viable.

Looking ahead

As well as further corp' earnings, there is a fair array of econ-data...
Durable goods orders, case-shiller HPI, PMI serv', consumer con', Richmond fed

Goodnight from London