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 Daryl Guppy is a well-known international financial technical analysis expert. For more than five years, he has provided weekly Shanghai Index analyses for Shanghai Security News and other mainland Chinese media and now for China Daily as well. Guppy appears regularly on CNBC Asia and is known as ‘The Chart Man’. He is a national board member of the Australia China Business Council. Visit his website at www.guppytraders.com
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Daryl Guppy: Shanghai consolidation in trend breakout |
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Written by Daryl Guppy
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Monday, 23 August 2010 17:12 |
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THE WORST-KEPT secret in the world was confirmed last week. China officially became the world’s No 2 economy. For the bulls, this was a confirmation “buy” signal in China, and trading in China exhange-traded funds surged. For the bears, it was another drop of depression with the realisation that the US will be the next and last nation to face a challenge from China.
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Last Updated on Monday, 30 August 2010 13:47 |
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Daryl Guppy: Shanghai leads markets |
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Written by Daryl Guppy
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Monday, 16 August 2010 16:55 |
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ALL EYES WERE turned towards China’s growth and inflation figures last week, but unusually, investors were looking in the wrong direction. The correct focus last week should have been on the developing weakness in the Dow Jones Industrial Average and the completion of a relatively rare double-shoulder pattern. The 2.4% fall last Wednesday is consistent with the development of the head-and-shoulders pattern and sets a deep downside target for the Dow. It is a repeat of the behaviour seen in 1929 and 1930.
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Last Updated on Friday, 13 August 2010 16:59 |
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Daryl Guppy: Shanghai’s uptrend character |
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Written by Daryl Guppy
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Monday, 09 August 2010 15:28 |
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CHINA’S OFFICIAL PURCHASING Managers Index (PMI) fell from 52.1 to 51.2, the lowest reading in 17 months. Any reading above 50 is considered bullish. This is strong evidence that targeted government policies have cooled the bubble in credit markets and slowed property speculation. Additionally, heavy polluters are also feeling the pressure to reform from Beijing. The lower PMI figures confirmed what the Shanghai Index had already been indicating for several days. This was good news and the market gathered strength and continued to rally quickly, breaking above consolidation resistance at 2,580 and moved strongly towards resistance at 2,680.
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Last Updated on Friday, 06 August 2010 15:34 |
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Daryl Guppy: Shanghai breakout from downtrend sustainable |
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Written by Daryl Guppy
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Monday, 02 August 2010 14:10 |
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THE CHINA ECONOMY is overheating. The China economy is developing a hard landing. Sometimes, China market commentary is like going to yum cha. You can select the pieces that appeal most to your taste.
Our preference is for technical analysis, but there are other fundamental features that support the breakout development we are seeing on the Shanghai Composite Index. China’s big banks showed better non-performing loan (NPL) ratios, with the bad loan ratio falling to 1.3% at end-June. This is down from 1.58% at the start of the year. The banks have made provisions to cover 186% of NPLs. This is a more comfortable safety margin compared with that used in the stress test of European banks.
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Last Updated on Friday, 06 August 2010 15:28 |
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