Cn50
Asia Dragon Dominates - CN50It took only 3 months in 2015 May till Aug for the index to crash 45% from its peak but is more than 2 years now and we are blessed indeed to see it pulling back nearly 57% of its previous shiny days. That means it has nearly 15% more to catch up to its previous high.
Notice the nice Cup formed, expecting a right handle to be formed soon (pull back). The fall will be between the 50% and 61.8% FIB level . It may not as well upon closer examination as the price has pierced through the 61.8% FIB, retrace and closed with a nice green candle.
There are tons of good news to focus on :
1. www.scmp.com
2.https://www.bloomberg.com/news/articles/2017-11-09/why-singles-day-is-biggest-shopping-spree-ever-quicktake-q-a
(this is more than Alibaba in the limelight. This article again emphasized the rising emergence of the affluent middle income with high purchasing power, consumption is going up the roof like never before)
3.http://www.zerohedge.com/news/2016-10-22/china-moves-forward-its-de-dollarization-strategy
Once upon a time, China was known as the world's biggest factory (it is still to many countries) but slowly but surely, it is now gaining recognition for its R&D, automotive and tech industries. If rich consumers are splurging on overseas properties, then the tycoons and business owners like Jack Ma, Wang Dalian and many others are buying up entertainment, buildings, etc to increase their market share.
Why did Jim Roger send his daughter to study chinese ? So is President Donald Trump's granddaughter as well. They both recognise the importance of the chinese language and to fully understand the culture, language is one important key to it.
I am bullish on China for the long term
Dr. Hagopian visits ChinaIt appears to me that the Hagopian rule is about to play out and we are getting a chance to enter this trade with a very small stop.
The Hagopian rule
This rule is invoked once a confirmed pitchfork breaks without the price ever reaching the median line, what should follow is a bigger movement in the opposite direction.
