Shanghai: SSE Composite Index (.SSEC) down more than 20% this year
Shares in China have outperformed their U.S. counterparts since Beijing and Washington agreed to hold fire in their trade battle, reversing a pattern that has held for most of this year.
Calm has returned to China’s stock markets after a dismal and volatile year, amid expectations Beijing will take more potent measures to arrest an economic slowdown.
The benchmark Shanghai Composite Index SHCOMP, +0.16% has edged up 0.2% since the U.S. and China agreed to 90 days of talks after President Donald Trump and Chinese President Xi Jinping met in Buenos Aires on Dec. 1. By contrast, the S&P 500 index SPX, -1.62% has fallen 5.8% in the same two-week period. Still, Shanghai is down nearly 22% this year, as of Friday’s close, while the S&P 500’s loss is only 2.8%.
Overall, the bias in prices is: Downwards
The projected upper bound is: 2,718.10.
The projected lower bound is: 2,473.11.
The projected closing price is: 2,595.60.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 47.0791. This is not an overbought or oversold reading. The last signal was a buy 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 46.85. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 41 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -59. This is not a topping or bottoming area. The last signal was a buy 13 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 1 period(s) ago.
Rex Takasugi – TD Profile
SSE COMPOSITE closed up 4.233 at 2,597.974. Volume was 18% below average (neutral) and Bollinger Bands were 42% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 2,613.34 2,615.78 2,884.41
Volatility: 17 30 24
Volume: 13,052,454,912 16,312,950,784 14,422,494,208
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
SSE COMPOSITE is currently 9.9% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of .SSEC (mildly bearish). Our trend forecasting oscillators are currently bearish on .SSEC and have had this outlook for the last 4 periods.
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