SSEC Symmetrical Triangle

Just happened to saw some guy's thread in CNA forum this morning bragging about SSEC's triangle and that how come no one mentioned about it. He has definitely not read my blog and my entry on SSEC.

Another guy talked about SSEC not buying "fake" DOW recovery. Well, I can only tells him that it is not that China does not believe in the recover, it could also be investors channelling funds away from China and move it into USA.


Fig 1 SSEC Weekly Chart
As can be seen, SSEC has now broken its triangle envelop and moving towards its objective of 2,287. However, in the short term, it is likely to retrace back to the envelop that it has justbroken down from. Anyway, it is closer to the negative Gann Grid line so it is negative in general direction.