As of December 9, 2019, today's broader SSE index closed at 2914.48 points.
Shanghai Securities Composite Index, referred to as the "SSE Index" or "SSE Composite Index", is based on a sample of all stocks listed on the Shanghai Stock Exchange (including A shares and B shares), weighted by the number of outstanding shares (including the outstanding share capital and non-circulating shares). The SSE Composite Index is a stock price index calculated by the weighted average method using December 19, 1990 as the base date and the base date index is set at 100 points.
On November 23, 2017, A-shares opened lower, with deep adjustments across the board. The Shanghai Composite Index lost the 3400-point round figure, marking the largest single-day decline of the year. The last trading day the first retracement of the three major stock indexes in the deep market synchronized more than 3% decline.
Expanded
Related Indicators:
1, SMA position
Short run in the 5-day line, the 10-day line by the technical school of extraordinarily valued, once the index climbed to here, there will be a belief in the technology of the short-term customer decisive selling, so the formation of resistance is very natural.
2, historical highs
The reason why the plate before the highs, because there have been investors in the then relatively high prices to buy were trapped in the loss, when the index in this resistance to fall back and rise again, once close to the previous highs, the loss of investors will be eager to unlock the stock index futures have been sold, thus resulting in a continuous decline in the stock index. As a result, a top reversal pattern is formed on the chart.
3. Historical lows
The formation of the previous low was due to the balance between the long and short sides, indicating strong buyer power. Because in this area, the low buyers increased. Long investors believe that the current stock index is in a historical position. And when the index at this low point gradually lost support, there will be a considerable number of short sellers to join the ranks of selling, which led to a sharp decline in the market, like diving.
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