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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!
Good SSEC chart.
The 1982 rally in the US was launched off a major 30 yr trend-line using the 53/74 lows.
Will a 20 yr trend-line have the same impact in China?