China is in trouble

With the Friday decline of -6.4% @ 4478, the Shanghai comp' saw an extreme net weekly decline of -13.3%. The giant monthly cycle is now offering the first significant net monthly reversal/decline since June 2013. Primary downside target remains the 3400s.. which is a severe 1000pts (22%) lower.


China, daily

China, monthly

Summary

It has been a long week... I will leave it at that.

Goodnight from London
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*the weekend post will be on the US weekly indexes