Don't Ignore This Chart!

Shanghai Composite breaks resistance

It's been a long time coming, but the Shanghai Composite ($SSEC) finally broke above 3100 resistance. The index has been lagging the S&P 500 the last six weeks as it traded flat. Today's break above 3100 takes the index to its highest level since January.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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