Monthly Intraday Charts for SPX and SSEC: 2012-01

This is a monthly series of intra-day charts for S&P 500 (SPX) and Shanghai Index (SSEC) for Jan. 2012. 

SPX

SSEC

Short Covering on China stocks while Baltic Dry Slump

Massive shorts covering are happening on New York listed China stocks today, following 2 day strong bottom fishing rally on Shanghai Index.  Indicating the tipping point of Chinese monetary policy turning from tightening to easing has very likely happened. At the same time, Baltic Dry Index continues to slump to historical low levels.

AMZN and BIDU target price

AMZN and BIDU both experienced stellar bullish run since November 2008, however, just like Netflix, stocks go up and down, both stocks have pulled back recently, and the magnitude of these pull backs indicate their bullish runs that lasted for 3 years are over.  For AMZN, it dropped from 245 to 170,  my gut feeling is that it will go sideway for sometime at around 170 price level, then go up to above 200 level, go sideway for a few months, then go down again dropping through 170 towards final price target of this down trend which is 122, I estimate the time of reaching that price target is October - November 2012.  For BIDU, the chart looks uglier, it looks the price target is around 40 level in just a few months time frame.

Monthly Intraday Charts for SPX and SSEC: 2011-12

This is a monthly series of intra-day charts for S&P 500 (SPX) and Shanghai Index (SSEC) for Dec. 2011.
SPX

SSEC

Monthly Intraday Charts for SPX and SSEC: 2011-11

This is a monthly series of intra-day charts for S&P 500 (SPX) and Shanghai Index (SSEC) for Nov. 2011.  

SPX

SSEC

Monthly Intraday Charts for SPX and SSEC: 2011-10

This is a monthly series of intra-day charts for S&P 500 (SPX) and Shanghai Index (SSEC) for Oct. 2011.  

SPX

SSEC

Yesterday was Successful retest of early August low?

The day before yesterday on Monday, SPX closed at 1099, at the low of early August crash (1101), bull-bear market 20% line is just 10 points away at 1090.  Yesterday during day trading, that line was crossed, market once reached bear market territory at 1074, then bounced back strongly and closed convincingly above 20% line at 1123. Yesterday's low was the low that SPX futures reached in early August at night-time trading, but was never visited during day-time trading until yesterday, this fact shows that the lack of rally since August drop was due to the lack of a successful retest of August low (not only the day time low, but also the night time low as well)