Alert: Shanghai and greenback threatening 200-day averages
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.
More on this topic (What's this?)
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Mayweather Pacquiao Fight and the Declining Value of the U.S. Dollar (Jutia Group, 5/8/15)
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