To take one simple measure, the Shanghai Composite index is trading below its 200-day moving average, a line drawn by taking the average of its closing prices over the previous 200 days.

举一个简单的指标，上证综指目前处于200日移动平均线以下。

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The daily chart for the Dow is overbought with the index just above its 50-day simple moving average (SMA) at 13, 146.73.

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When you look at the weekly graph for the Philadelphia Semiconductor Index (SOX) you see that semiconductors are on the cusp of its 200-week simple moving average at 341.34 and that a trend below that key technical level indicates risk to its annual value level at 270.98.

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