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Monday, Januray 30th.,
Chart 1 - China's Shanghai Composite: Last night, the Shanghai closed at 2285.04 which a drop of -1.47%. The S.T. Accelerator is in an up condition but without clear sailing yet. The Relative Strength was at 48.3 and it needs to close above 51.0 for the Accelerator to show an improved safety level. This is still a higher risk, high volatility area where that Shanghai needs to break out above its April 2011 to January 2012 resistance line. The current Accelerator level is telling us that the Shanghai has a high probability of testing the 2358 down sloping resistance, and a new up trend will not have a chance of starting until it gets above that level.
Chart 2. - Just to keep the Shanghai Bubble's drop in perspective, this is a long term chart of the Shanghai Composite.
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