Updating this blog post from December 11th, 2013, you can see the “island top” daily chart bearish pattern on the FXI, ETF for China, has not only confirmed lower but continues to be the controlling pattern. Along with weakness in other emerging markets, China is now working through a descending triangle pattern, which often resolves lower when seen in the context of a corrective pattern.
China names like Baidu have been resilient, but under $169 and I would expect the selling to intensify quickly.
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