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November 17., 2009
Chart 1 - China's Shanghai Composite:
Last night, the Shanghai moved up +0.24%. Relative Strength is positive and moving up, and our Accelerator is positive and high. The last two days were positive enough to influence the Shanghai 180's Accelerator which had a divergence problem. Technically, it still has, but much of it was erased boding well for more up movement on the Shanghai Composite.
Note the C-RSI had a positive jump above the resistance line on Sunday night. The Super Accelerator also had a sharp jump which was a positive, upside condition for the Shanghai 180.
It still has an Accelerator divergence problem relative to the Shanghai Composite but a good portion of that was washed out in the past two days.
Chart 3 - Just to keep the Shanghai Bubble's drop in perspective, this is the 10 year WEEKLY chart of the Shanghai Composite.
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