Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
Despite doomsayers' predictions that the S&P 500 index will collapse, the charts still don't support those warnings.
The euro zone is under pressure, the Shanghai Index is falling and US rates will rise. But despite these factors, gold continues to move sideways.
Four key features of the Shanghai Composite have exacerbated its plunge, pushing it toward the consolidation area between 3000 and 3400.
There is to be a big change in the direction of China's Shanghai Composite Index, with a high probability the market will find support at 3400 points.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.