Monday, January 9, 2012

Shanghai Bounce ?

On January 5th I posted a Shanghai chart stating that the index was at a critical juncture. The market surged yesterday and has reached a important short term resistance level. If this diagonal resistance based on the vesica piscis is broken higher prices near term can be expected. The chart below is a daily chart using the latest advance (October 2011) as the foundation to the geometric analysis. The previously posted chart is a long term weekly analysis.

S&P 500
Cycle work on the S&P 500 suggests that the market may vacillate until the Jan 17-23rd time frame. More on this later in the week.

1 comment:

scotty said...

update-
1-of-3-complete cit-on-the-18th