The Traderszone Network

Shanghai Composite opening lower today:

The dollar firms as investors interpreted latest US GDP readings as keeping the Federal Reserve on track for its first interest rate hike since 2006.

Following last night’s afternoon session plungefest (with ChiNext’s biggest drop in a month), as it appeared the government experimented with ‘free’ markets briefly, regulators have “asked” insurance companies to be “net sellers” of stocks going forward. With margin debt dropping for the 4th day in a row (to fresh 4-month lows), Markit noted that accusations of foreigners short selling shares is “overblown” by Chinese market regulators and not the cause of a recent rout in the stock market, according to the SCMP.

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The stock market ended the Thursday session on a slightly higher note after rebounding off its opening low.  The indexes have a good amount of moving average resistance immediately overhead so we are far from being in the  clear, but things are looking a bit better.

Here is an example of what I mean in the Russell chart below.

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1000 musicians play Learn to Fly by Foo Fighters
I got chills listening to this:

New York Mets shortstop Wilmer Flores shows a rare display of emotion on the field following rumors about his trade to the Milwaukee Brewers for Carlos Gomez.
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New Zealand
ANZ Business confidence for July, -15.3
– prior was -2.3
and, ANZ Activity Outlook for July, +19
– prior was 23.6
–
Another dreadful result for the NZ ANZ Business Confidence survey