Metal miners lead recovery from Panda 2222
S&P/TSX Capped Diversified Metal miners index was up 2.6% yesterday on a worst day for stocks YTD
Today , another 2.3 % on the open , led by Cu miners.
https://finance.yahoo.com/q/bc?s=^GSPTTMN&t=5d&l=on&z=l&q=l&c=
Ie. FM is 20% /week for no reason/ news other than bouncing from 3 Y bull-trndline support
https://finance.yahoo.com/q/bc?s=FM.TO&t=5y&l=on&z=l&q=l&c=
Same reversal - up from 1000 pts trendline support did the metal minrers index.
https://finance.yahoo.com/q/bc?s=^GSPTTMN&t=5y&l=on&z=l&q=l&c=
SP500 also shows extremelly oversold condition
https://www.bespokeinvest.com/storage/oversold%20stocks.png?__SQUARESPACE_CACHEVERSION=1334092876868
BUT MOST IMPORTANT THING CONFIRMING MINERS REVERSAL IS C H I N A
SHANGHAI REVERSED APR 5 FROM MAJOR . I MEAN.. MAJOR 8 Y TRENDLINE
.
CHINA LANDED ALREADY- proclaimed DB.
I do not know if the line in sand = Shanghai 2222 is hard enough landing ...from the 6,000 high ( down 63% looks pretty hard )
During last 4 y China economy grew by 8-9 % each year on top of 8-9 % the previous year ( ++ 40% cummulatively) while Shanghai stock market went down 65 % ,,,geeesus
the wirdest thing in history ?
Now they care only about hard enough take -off.
https://finance.yahoo.com/q/bc?s=000001.SS&t=my&l=on&z=l&q=l&c=
LAST WEEK WHOLE WORLD WAS TANKING ( western markets are way above trendlines = can afford needed anyway correction )
WHILE SHANGHAI HELD AND ADVANCED .
THIS WEEK CAN GO TO HISTORY AS END OF 4 Y LONG SHANGHAI BEAR AND START AT LEAST 1 -2 Y LONG BULL
THOUGH IT WAS CLOSE CALL.
NO END OF WORLD FOR NOW AND THIS SHOULD BE GOOD FOR MINERS.
Sector rotation to the most beaten sectors is in order ,I guess.
https://www.bespokeinvest.com/storage/Sectors.png?__SQUARESPACE_CACHEVERSION=1334073063504
COMMODITIES START OF BULL IS ALSO CONFIRMED BY USD HITTING MAJOR
2 Y DOWN-TRENDLINE RESISTANCE AND BACK SOUTH
Plenty of major tech reversals this week .... geeeez
It is early though -not out of woods yet.. So early, that 1/2 of people is still panically selling LOOL
https://finance.yahoo.com/q/bc?s=UUP&t=my&l=on&z=l&q=l&c=
USD secular trend was down for generation - long .... and still is .
Funny , how prospect of the end of world is prolonging the slide of USD.
https://finance.yahoo.com/q/bc?t=5d&l=on&z=l&q=l&p=&a=&c=&s=fm.to