The Shanghai Composite ($SSEC) peaked in November 2010 and hit a new 52-week low in August 2011. As the S&P 500 moved to a new high in April-May 2011, the index formed a lower high in mid April. A support break and 52-week low followed in the next few months. Relative weakness and a 52-week low in this key index are bearish for global equities.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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.
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