This is not a trustworthy trend and as we anticipated, it collapsed.
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The Shanghai index breakout has slowed and developed some consolidation behavior around 2100 to 2140.
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This is not a trustworthy trend. This is a powerful breakout above the upper trend line resistance.
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The Shanghai index breakout continues. The breakout has regained momentum with a consolidation around 2100.
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The market has retreated form the resistance created by the upper trend line.
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The Shanghai index is developing a strong breakout.
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This is a good example of an extended stirrup pattern breakout.
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The Shanghai Index made a new low near 1999 followed by a rapid rebound rally leading into the holidays.
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The market did not reach resistance near 4430.
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The Shanghai Index made a new low near 1999.
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The market is moving towards resistance near 4430.
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Check out Daryl Guppy's new article on CNBC Asia-Dollar Index Headed for Rapid Collapse: Chart.
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The Shanghai Index is showing the classic test and retest pattern of trend reversal.
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The most important development in the past week is the rebound from 4280.
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As we noted last week, the danger comes from a rapid retreat from this resistance level 4430.
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