Shanghai Flag Breaks 20-year Support Line, Pulling Other Markets with It!

July 3rd, 2013

by Chris Kimble

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Could a slowdown in China not only impact other Emerging markets, could it ripple in the U.S.? The above 4-pack reflects that the Shanghai index is breaking support of a multi-year flag pattern, with the bottom of the flag pattern, being a support line that has been in place for 20-years.

The 4-pack below reflects that the Hang Seng index is breaking support along with EEM and VWO, two of the six largest ETF's in the U.S.! Don't overlook the potential ripple effects and impact on markets in the U.S. if these flag breakdowns continue to push lower!

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