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Chart Of The Day

CHINA CONTINUES TO FORECAST A STRONG U.S. EQUITY ENVIRONMENT

I have often pointed out the fact that Chinese equities have served as a fairly reliable leading indicator of US equity prices over the last few years. Assuming this trend is still in place (which is quite clear based on the August lows in the US market which were preceded by the July lows in the Shanghai Composite) recent price action bodes quite well for the U.S. stock market as Chinese stocks have rallied almost 10% in just the last 4 sessions and over 20% from their summer lows:

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