It’s possible that the wheels will totally fall off again, but in the meantime it’s becoming clear that the Shanghai Composite is breaking the trend that we were seeing just a month ago, of relentless day-after-day declines.
That move prompted a lot of folks to call it the brand new leading indicator that everyone needed to start watching.
Well, will people still stick to that tune now that the index is moving higher? The answer is probably: they’ll wait until it’s really obvious which way US stocks are going, and either dump Shanghai or keep it as an object of fascination.
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