November 18, 2008
Has China’s Stock Market Seen the Lows?
You can see from the chart below that since China announced its $586 billion stimulus plan on Sunday, November 9th, the stock market here has been quite strong. I’m not sure if this will mark *the* bottom, but it obviously marks some kind of significant low.
Interestingly, as my newsletter readers know, the UltraShort FTSE/Xinhua China 25 (FXP) reversed from long to short on Monday, November 3rd at $86.43, around a week before the stimulus “news.”
November 18th, 2008 at 10:56 pm
Ooh, market profile Chairman?
November 19th, 2008 at 6:56 am
@steve: This is a very sweet chart showing the volume distribution at price … they have this on Qcharts too, but only for one day. Be interested to know what other charting programs offer this, if anyone knows.
November 19th, 2008 at 9:11 am
Very cool chart, FXI had a three week rising trendline……until today. CAF is still hanging in there. About time they fired up :-)
November 20th, 2008 at 5:55 am
In last 2 weeks, Shanghai Index up 20%. During same time period, S&P is down 20%. A 40% differential in just 2 weeks . . . China rising!
November 20th, 2008 at 7:13 am
@kevin: China has been leading the way down since last October, I wouldn’t get too excited about anything. (admin doesn’t allow gratuitous plugging of any blog in the comments).