Alert: Shanghai and greenback threatening 200-day averages

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I mentioned in a post two days ago that all the major stock market indices were still trading above the key 200-day moving averages – an indicator of the primary trend. The Shanghai Composite Index (2,994 this morning) has since fallen to within a hair’s breadth of the 200-day line (2,989).

Also, the US Dollar Index (78.77) is right up against its 200 DMA (78.59).

These are important levels and one should keep a close eye on them to see where major breaks materialize.

ssec-shangai

Source: StockCharts.com

us-dollar-index

Source: StockCharts.com

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