Surprise easing from the Bank of Japan (BOJ) at the end of October fueled gains in the Nikkei, but charts indicate further upside may be limited.» Read More
Starting September 2008 the Shanghai Composite Index has been steadily rising, a remarkable performance in this dismal environment.
First, the SCI stopped falling – a feat which Western markets have yet to emulate. Secondly, it's developed a consistent sideways trading pattern which is a signal of consolidation. The Shanghai market is entering the Year of the Ox, and it may well be the start of a bull year.
Earlier this week, a reader of my India market newsletter asked if I could analyze Satyam Computer Services. I prepared these notes on Monday (5th January) based on the weekly and the daily chart. On Thursday morning, I returned from Beijing to find the same stock was front page news. These are the notes prepared three days before the breaking news.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.