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2013 hasn’t been kind to all stock index’s, especially when it comes to key Asian stock markets! The chart below reflects that the Hang Seng and the Shanghai Index are lagging the S&P 500’s performance by a large margin this year!
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The top chart reflects that both the Shanghai & Hang Seng index are facing multi-year resistance/channel lines at (1). The Emerging markets have been some of the weaker performing stock markets in the world this year and the past few years.
Should a breakout of resistance by the Shanghai & Hang Seng take place, it would be a positive technical situation for them and could help push the S&P 500 to even higher prices!
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