SSEC- correction comes knocking.

Shanghai's SSEC is now testing its immediate uptrend line support of 3250. As at 2.40am ET today, the SSEC was trading at 3212 (down 49 points). While a technical rebound is possible, the signs of a consolidation in SSEC is mounting. Among the signs noted are:
1) MACD did a crossunder;
2) The uptrend in the RSI has just been violated; and
3) The +DMI is trending lower while the -DMI is trending higher.


Chart: SSEC's daily chart as at August 7, 2009 (Source: Stockcharts.com)

A break in SSEC rally could also signal a temporary halt to the strong rally in most Asian markets.