The Shanghai composite saw a pre-holiday spring cleaning

by Dramelin 9:00 PM 0 comments

The little piles of discarded items that come with Chinese New Year traditions have a bright side.
What has been discarded needs to be replaced by something new.
On one level this gives a boost to the post-Chinese New Year retail sales.
It also gives a boost to the Shanghai index after the Chinese New Year holiday.
Portfolios are rebuilt and this year the market post-Chinese New Year sales have some real bargains on offer.
Aggressive traders are already positioning themselves to trade the market rebound from support levels The fall in the Dow holds no firm promise of a rebound.
The cultural traditions of China suggest the Shanghai index will rebound when the market resumes trading after the holiday shutdown.
Daryl Guppy is a trader and author of Trend Trading, The 36 Strategies of the Chinese for Financial Traders, which can be found at www.
He is a regular guest on CNBC Asia Squawk Box.
He is a speaker at trading conferences in China, Asia, Australia and Europe.
He is a special consultant to AxiCorp.
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