Looking at Shanghai SSECI daily chart, it looks like it is still not a firm ground for a rally. Look for downside support at 2850 +/- 10.
S&P 500 sell off just under the downtrend line. This is expected as no securities can break a downtrend line in is 1st challenge. No daily sell signal yet. So, best to wait for more clearer signal.
For the rest of the world, the summary is given below:
|Nikkei 225||Up||Neutral (-)||Down (-)||Next R=11k|
|Kospi||Up||Neutral (-)||Down (-)||R=1.9k.|
|SSECI||Up||Up||Neutral (-)||R=3.5k. S=2.6k. Finding base.|
|HSI||Up||Up||Neutral (-)||R=23.5k, S=20k.|
|STI||Up||Up||Neutral (-)||R=2.7k. S-2.52k|
|JKSE||Up||Neutral (-)||Neutral (-)||R=2.5k. S=2.3k|
We can see that the majority of the markets have weakened some more. Hopefully the correction is not severe.
My strategy is to cut off positions that was entered at the wrong time and keep the winners.