​Ryhtm is impossible to forecast, but we are in situation that requires caution. All markets are falling. China of course, but we do not think this is important: China has already been in a bearish trend for several months, it is simply unfolding its trend. The source of worry is of course the US market. We have a very big short-term sell signal on the leading American index: the Nasdaq 100. The S&P 500 is also breaking below the 1993 support, which is major too. Those signals take place in the course of what could very much be a medium term reversal.
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