Two big asset-classes had major long-term trend reversals today. When a stock or index is trading above its 200-day moving average, it is considered to be in a long-term uptrend. When the price is trading below the 200-day, it is considered to be in a long-term downtrend. Today, the US Dollar index closed above its 200-day for the first time since last May. China's Shanghai Composite Index closed below its 200-day for the first time since last March. The dollar has been rallying for a couple of months now, while China has been struggling, but today's moves are confirmations that the trends could be in place for longer than some thought.
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