The Purchasers Managers Index (PMI) in China for April fell to 48.1 from 48.3. The survey showed factory activity in the world's 2nd largest economy contracting for a 4th consecutive month, yet the Shanghai shrugged it off.
Most U.S. money managers are keeping an eye on China. If the Shanghai adds 1% or more on Tuesday than Monday's late rally could signal that the Govt is prepared to act with measures that would quell fears and spark a longer-term move higher in stocks.
Maybe the Year of the Horse will prove to have more bucking power than many bears now estimate.
Thank You,
POTC-
http://psychologyofthecall.blogspot.com
Monday's late rally was impressive from both a Price and Volume standpoint
Shanghai composite since the 1990's reveals the Key 2,000 level of Support
Most U.S. money managers are keeping an eye on China. If the Shanghai adds 1% or more on Tuesday than Monday's late rally could signal that the Govt is prepared to act with measures that would quell fears and spark a longer-term move higher in stocks.
Maybe the Year of the Horse will prove to have more bucking power than many bears now estimate.
Thank You,
POTC-
http://psychologyofthecall.blogspot.com
No comments:
Post a Comment