.......A Chinese Miracle? OR A Huge Bust?
Taking a look at China's SSEC index, see http://bit.ly/eofqb, both the first daily candlestick chart and the second weekly candlestick chart look very bearish. The SSEC recently fell about -24% in a month's time, and, it appears to be a Wave 1 Monthly Downcycle (meaning that the SSEC has probably peaked), with most of that decline occurring in only about two weeks time.
A very anemic SSEC countertrend Short Term Wave 2/Wave B Upcycle appears to have peaked at 3068.02, way below the recent important cycle high at 3478.01, see http://bit.ly/eofqb. Also, the recent important cycle high at 3478.01 is way below the Bull Market cycle high at 6124.04 in October 2007, see the second weekly chart at http://bit.ly/eofqb.
The fact that the Chinese felt the need for a humongous (equivalent of US doing $4.5 Trillion I read) stimulus package points to the severity of their economic bust, which is reflected in SSEC charts one and two at http://bit.ly/eofqb. It doesn't look like the Chinese will be leading the world out of the economic bust. They're looking like another Japan right now.
.......http://www.JoeFRocks.com/
A very anemic SSEC countertrend Short Term Wave 2/Wave B Upcycle appears to have peaked at 3068.02, way below the recent important cycle high at 3478.01, see http://bit.ly/eofqb. Also, the recent important cycle high at 3478.01 is way below the Bull Market cycle high at 6124.04 in October 2007, see the second weekly chart at http://bit.ly/eofqb.
The fact that the Chinese felt the need for a humongous (equivalent of US doing $4.5 Trillion I read) stimulus package points to the severity of their economic bust, which is reflected in SSEC charts one and two at http://bit.ly/eofqb. It doesn't look like the Chinese will be leading the world out of the economic bust. They're looking like another Japan right now.
.......http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
11:38 PM
1 Comments:
Apparently, a newly constructed building in Bejing or Shanghai collapsed in June, shortly after it was built. The point is that maybe China isn't really an economic superpower yet.
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By
Joe Ferrazzano, at 12:15 AM
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