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Chinese investors continue to run for the exits. The Shanghai Stock Exchange closed down another -2.5% overnight at 2895, and I do not see support for this chart until the 2701 line.

At 2701, the Chinese crash will be -62% from the "it's global this time" October 2007 peak.

The Olympics are in August, and I don't see the payoff of getting long this river card of geo-political risk factors until at least late July.
KM

(chart courtesy of stockcharts.com)