It has been some time since I have written anything about the Shanghai Composite. I have shown my favorite count, which calls for a possible end to wave ii soon or if we break clearly above 2,572 we could see a continuation higher to just around 2,700. Looking at the short term picture below we have a almost done 5 wave rally since 2,389. We might have one more spike early tomorrow, but we are very close to a top. The decline will determine if we need more pressure to the upside later or not.
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