XJO 0.11% 6,650.9 s&p/asx 200

Wednesday Feb 27 - Great Fall of China day

  1. 8,087 Posts.
    lightbulb Created with Sketch. 941
    SPI Futures traded in a 42 point range last night, with a high of 6140, low of 6098 and a close this morning of 6119, up 14 points on better than lately volume of 12,000 contracts. Based on that range, my pivot point and R and S levels are below. Three gaps above at 6127, 6133 and 6136 and three down at 6109, 6104 and 6098 from last night. Well, yesterday was a 60 point red arrow down and 40 point green arrow up day, so what will today bring ? DOW down .13 pct, SNP down .08 pct and Canada (resource driven) up. 07 pct. I'm thinking a gap up, get those upper ones out of the way, then down for the lower ones, - or, the other way around.

    wed.png

    Today in 2007, the Shanghai Stock Exchange fell 9%, the largest drop in 10 years, amid rumours of a crackdown on illegal share offerings and trading, as well as fears over accelerated inflation. It would later be called The Chinese Correction and the Great Fall of China. Well, better than the Great Wall of Trump. Have a nice day.

    27-february-The-Chinese-Correction.jpg

    Column 1 Column 2
    0 H 6140
    1 L 6098
    2 C 6119
    3 R 42
    4 R6 6161
    5 R5 6151
    6 R4 6145
    7 R3 6140
    8 R2 6135
    9 R1 6130
    10 PP 6119
    11 S1 6109
    12 S2 6103
    13 S3 6098
    14 S4 6093
    15 S5 6088
    16 S6 6077
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.