More Bad News For China
Not only did China stall out in mid-2009 but it has now surpassed the lows set in mid-2010.
Shanghai Index
One of many indicators pointing to more troubles ahead, the port data out of LA and Long Beach is showing that trade has been slowing down for some time. Usually traffic peaks in August-October but this year we hit a high in May that we were not able to break.
LA and Long Beach Port Traffic
The bottom line is that Europe may be getting all of the headlines but China has been slowing, is still slowing, and looks as if it will continue to slow. With Europe and China basically in recession how much longer can the United States hold out?
Happy Trading,
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