China bounced overnight: Golf Clap...

Chinese stocks avoided their 11th consecutive day of losses overnight, closing +5.2% on the day.

Like a nice putt, we'll give this aberration in the data a golf clap. The "Trend" in the data is a crashing one. Inclusive of today's bounce, China is down -52% from the "its global this time" October 2007 highs.

My next support for the Shanghai Stock Exchange is 2696. Today the Index closed at 3085.

KM

(chart courtesy of stockcharts.com)