Author: Neeraj Khanna

“This week, the Shenzhen and Shanghai indices fell over 3% and 1%,
respectively, falling into a Correction. The Shenzhen looks to be the
worst performing, falling below its 40-week moving average. It is now
on its way to retesting August 2016 lows. The Shanghai is still holding
2% above its 40-week moving average, but action this week has been
discouraging as it failed to rally above resistance at its 10-week moving
average. We advise caution and suggest holding back on new positions as
the markets continue to search for support.”