Tuesday, June 29, 2010

Shanghai Stock Exchange Index Update

I talked about the descending triangle formation on the Shanghai Stock Exchange Index chart on Sunday in this entry.  I was wondering when we would know whether we would have a break up, or a break down then, today, we have the answer.

There is a long black bar decisively penetrating the 2475 point base of the triangle.  To forecast the extent SSE will drop, I again mentioned if 2475 is broken, we should expect a drop of about 200 points to 2275.  We already have one expectation fulfilled, now let's see whether our next expectation is also met. 

Good investing. 

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