In the year of the Metal Tiger, I thought it might be wise to review the charts on SSEC again in relation to the SPX, as we were discussing earlier on the message board. With all of the news about Google, rate hikes, lending tightening taking place over there, Jim Chanos' prediction and so forth will the Shanghai Index provide us with an early clue this year of a pullback? Let's take a look below. I was unable to pull up a chart on the Shanghai in TOS for DeMark purposes, so instead I'm using FXI as a proxy, although it's not a pure play on the index. Also, I am including a DDT chart from earlier today in case you missed any of them, and we had a very welcome visit from Joe8888 and I know you'll also enjoy pouring over his mah-va-lous charts too. As we head into OPEX Friday, the economic calendar includes: CPI, Empire State Mfg. and Industrial Production date before the bell, followed by Consumer Sentiment at 9:55... and of course the much anticipated JP Morgan earnings, also before the bell. Good trading tomorrow TTWrs. Please be sure to stop by on the weekend for Zig Zag's T- theory lesson for beginners.
Before I forget, a huge thank you to MoneyFarm this week for always posting his potential trades with us!
Also: please take a minute to visit Moo's place where Brinkley has done an outstanding job of organizing some information on how to help with the disaster in Haiti. For all of our chronic whining about the tape every day, we should count our good fortune and take a long look around us at just how much we have.
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Joe’s Charts!
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DDT’s Chart  |
Edit to add a good find by Brinkley earlier regarding GOOG/China. How timely!
The Great Google Cover-up?
