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CROUCHING TIGER, BURSTING BUBBLE
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CROUCHING TIGER, BURSTING BUBBLE

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CROUCHING TIGER, BURSTING BUBBLE

Island top reversal.

Is this is it for the Chinese market and the precursor to another global meltdown?

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what was the reason for the big sell off on the HANG SENG INDEX ?

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I don't believe in "reasons". They are like a fart in the wind.

I believe in price action. See the chart below.

There may be a "reason" GE is showing relative weakness to the broader market, but it really doesn't matter what it is.

The price action is all that matters, and it's telling me all that I need to know.

But the real answer to your question is the 25 basis point rate hike.

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looks worse in June but they recovered
TechSmith | Screencast.com, online video sharing, 2010-10-27_1452

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cory View Post


...not politically

btw: It's almost November...things change.

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...not politically

btw: It's almost November...things change.


I can identify several island reversals on the chart. But they are overheating and have a debt bubble, so may be that will deflate a bit. PSSSST.....

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I rarely engage in these kind of discussions as I'm not a fundamental trader - in fact far from it (has no bearing on trading profitably imo)
But I have to ask why you're looking at such a short term chart?

Here's a look at the weekly:
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Tells a different story to me. The second test of the 50% retracement level in the past year suggests strength to me.
Sure, we're not likely to see those extreme highs for a long time, but just as we're unlikely to see the waterfall decline of 2007/2008 so soon, as you're suggesting.
Maybe we get a significant correction but I wouldn't rule out a move into the 50's.


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Island top reversal.

Is this is it for the Chinese market and the precursor to another global meltdown?


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sure looks like resistance to me...

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It's definitely resistance but the index can correct without a "global meltdown".



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sure looks like resistance to me...


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