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The Shanghai Index has declined 20%+ in the past 14 months after it broke down from its multi-year flag pattern. Once the Shanghai broke below the flag pattern last year, many markets around the world lost ground (see post here).
The decline now has it testing a support line (1), that has been in place for the past 20-years.
The NYSE remains inside of a multi-year flag pattern at this time.
Bob Hope’s along with many around the globe that the Shanghai doesn’t break through this key support line!