July 4, 2015

China down almost 30% this month; broader trend bullish

- China loses almost 30% off monthly highs
- Index is oversold; expecting a bounce
- good support around 3400 levels

According to Elliot Wave International, this correction is just a part of the 5th wave unfolding. Quote "Actually, it's the initial wave within China's wave V up, which followed the end of its wave IV contracting triangle."

This means a blast after the end of this correction followed by new highs.

Read more at http://www.elliottwave.com/freeupdates/archives/2015/07/01/China-s-Stock-Market-Rollercoaster-Ride-Continues.aspx#axzz3evKmSgKb

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