(Click at the pictures to enlarge)As I wrote last week the Chinese stocks might be leader in the coming bear-market as it was the leader higher from the bottom.
As can be seen all odds favor that an important top is firmly in place for the Shanghai Composite. All we need is a break below the gray supportline to confirm the top and to state that wave C down has begun.
Wave C should have an final target below the start of its buble run up from 2005 to October 2007, that would call for a move below 1,000 before wave C find its final bottom.
As pressure mounts on the Chinese stock I do expect stocks Worldwide will come under renewed pressure too.
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