Shanghai "A" Shares index appears to be declining from the mid-2015 high in a zigzag 5-3-5 correction. The current wave B appears to be ending as a triangle which, whether complete or not, is shaping up within parameters that would yield a downward thrust measurement for wave C equivalent to between 28.4 to 32.4% from the present level. Coincidentally, the level of the 78.6% retracement of the rally from June 2013-June 2015 falls right in the middle of that range, near 2670.00.
Should the index exceed 3848.00 before then, I will reconsider this count.
Should the index exceed 3848.00 before then, I will reconsider this count.
