Just a few thoughts here. Price action in $SSE has lead to another low. Today's print, not yet show in this chart, is 1991.17. I preferred to buy this mkt using a mine sweeper. The move that began on 9/5 was net sideways in a possible 4th wave triangle which is supportive of my earlier wave counts.
$FXI is much more constructive. China Mobile, $CHL, is the largest holding of many ETF proxies for $SSE seems to have limited upside bf another round of selling.
I'll be watching this market closely but I'm in no hurry to buy this one. I'll gladly miss the first impulsive move from any confirmed tradeable low.
To learn more about my previous work on this market, including long term wave counts, click here
Best of Trading
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Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article.
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