Global Economic
Trend Analysis

Recent Posts

Monday, August 24, 2015 9:23 PM

Chinese Stocks Extend Slide, Down Another 6%; S&P Futures +38 Points, Nasdaq Futures +71

Mish Moved to MishTalk.Com Click to Visit.

Following a day in which only 6 out of 500 S&P 500 stocks rose, a snap back of some sort was in order.

As I type at 9:00PM central, S&P futures are up 38 points and Nasdaq futures are up 71. The Dow is +300 or so. The Nasdaq index has been particularly wild.

In the first 10 minutes on Monday, the Nasdaq 100 index fell 410.04 points, 9.77%. By early afternoon, the Nasdaq was amazing in the green, but closed down 158.67 points, -3.78%.

Nasdaq 100 10-Minute

Chinese Stocks Extend Slide

Meanwhile, in China, the slide extends another day, at least for now. The Shanghai index is down another 6% to 3009.

I added a red bar in the following chart this evening to show the decline.

SSEC - Shanghai Stock Index

If US futures continue to rise, I suspect the other global equities will halt their slide, for now.

I do not see any lasting value in US or Chinese stocks at these prices, even following these corrections.

Mike "Mish" Shedlock

Last 10 Posts

Copyright 2009 Mike Shedlock. All Rights Reserved.
View My Stats