Wednesday, July 3, 2013

Shanghai flag pattern breaks 20-year support, pulling other markets with it!

by Chris Kimble


Could a slow down in China not only impact other Emerging markets, could it ripple in the U.S.? The above 4-pack reflects that the Shanghai index is breaking support of a multi-year flag pattern, with the bottom of the flag pattern, being a support line that has been in place for 20-years.

The 4-pack above reflects that the Hang Seng index is breaking support along with EEM and VWO, two of the six largest ETF's in the U.S.!  Don't overlook the potential ripple effects and impact on markets in the U.S. if these flag breakdowns continue to push lower!

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